Exxon Mobil (NYSE:XOM) Trading Down 4% on Disappointing Earnings

Exxon Mobil Co. (NYSE:XOM) shares dropped 4% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $116.22 and last traded at $116.51. Approximately 10,320,041 shares were traded during trading, a decline of 43% from the average daily volume of 17,992,779 shares. The stock had previously closed at $121.33.

The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The company had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.83 earnings per share.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, February 13th. This represents a $3.80 annualized dividend and a dividend yield of 3.22%. Exxon Mobil’s dividend payout ratio is currently 42.74%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho reissued a “neutral” rating and set a $125.00 price objective on shares of Exxon Mobil in a research note on Thursday, April 4th. Scotiabank raised their price objective on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. TD Cowen upped their target price on Exxon Mobil from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Wells Fargo & Company raised their price target on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Piper Sandler upped their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.28.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the sale, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Exxon Mobil

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after acquiring an additional 1,269,495 shares in the last quarter. FMR LLC increased its holdings in Exxon Mobil by 3.0% during the 3rd quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock worth $17,072,534,000 after purchasing an additional 4,162,149 shares during the last quarter. Norges Bank acquired a new position in shares of Exxon Mobil in the 4th quarter valued at approximately $5,519,753,000. Morgan Stanley grew its position in shares of Exxon Mobil by 2.0% during the third quarter. Morgan Stanley now owns 53,828,024 shares of the oil and gas company’s stock worth $6,329,099,000 after buying an additional 1,066,937 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Exxon Mobil by 1.3% in the third quarter. Northern Trust Corp now owns 43,696,758 shares of the oil and gas company’s stock worth $5,137,865,000 after buying an additional 576,078 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09. The stock has a market capitalization of $466.88 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 4.16 and a beta of 0.96. The firm’s fifty day moving average is $113.04 and its 200-day moving average is $106.62.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.