Exxon Mobil (NYSE:XOM) Shares Up 1% Following Dividend Announcement

Exxon Mobil Co. (NYSE:XOM)’s stock price traded up 1% during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $120.05 and last traded at $119.13. Approximately 5,969,209 shares were traded during trading, a decline of 67% from the average daily volume of 18,049,824 shares. The stock had previously closed at $117.96.

The newly announced dividend which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.18%. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Analyst Ratings Changes

XOM has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a report on Monday, February 5th. Redburn Atlantic upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and boosted their target price for the company from $116.00 to $119.00 in a report on Tuesday, January 9th. Truist Financial increased their price target on shares of Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Barclays initiated coverage on shares of Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $132.28.

Exxon Mobil Trading Up 1.2 %

The stock has a market cap of $472.50 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 4.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The stock’s 50-day moving average is $113.33 and its two-hundred day moving average is $106.64.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The firm had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.83 earnings per share. Equities research analysts anticipate that Exxon Mobil Co. will post 9.7 EPS for the current year.

Insider Buying and Selling at Exxon Mobil

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Exxon Mobil in the 4th quarter worth $5,519,753,000. Global Assets Advisory LLC grew its position in Exxon Mobil by 16,399.4% during the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after purchasing an additional 12,540,435 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Exxon Mobil by 566.2% in the fourth quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company’s stock worth $1,319,507,000 after buying an additional 11,216,602 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Exxon Mobil by 10,221.0% during the fourth quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company’s stock valued at $491,678,000 after buying an additional 4,870,115 shares during the last quarter. Finally, FMR LLC increased its position in shares of Exxon Mobil by 3.0% in the 3rd quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company’s stock valued at $17,072,534,000 after acquiring an additional 4,162,149 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

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.