ExxonMobil (NYSE:XOM) Trading Down 1% Following Analyst Downgrade

Shares of ExxonMobil Corporation (NYSE:XOM) traded down 1% on Tuesday after Bank of America downgraded the stock from a buy rating to a neutral rating. Bank of America now has a $158.00 price target on the stock, up from their previous price target of $154.00. ExxonMobil traded as low as $151.88 and last traded at $153.20. 16,227,742 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 19,696,660 shares. The stock had previously closed at $154.77.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Sanford C. Bernstein lowered their target price on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. TD Cowen dropped their price target on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Morgan Stanley cut their price target on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.45.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil enters its second-quarter earnings report with 43 consecutive years of dividend growth and a planned $20 billion annual share-repurchase program, supporting the stock’s income and capital-return appeal. The Single Biggest Reason to Buy Exxon Mobil Before July 31st
• Positive Sentiment: Analysts remain moderately optimistic after ExxonMobil outperformed the broader market over the past year. A potential sustained oil price above $100 per barrel could materially boost cash generation for large upstream producers such as ExxonMobil. Are Wall Street Analysts Predicting ExxonMobil Stock Will Climb or Sink?
• Neutral Sentiment: ExxonMobil’s second-quarter earnings setup is mixed: profit and revenue estimates have moved higher, but the stock’s relatively premium valuation may limit enthusiasm for new positions ahead of the report. ExxonMobil’s Q2 Earnings on Deck: Should You Bet on the Stock?
• Neutral Sentiment: ExxonMobil is reportedly redirecting new oil investment toward Nigeria and other African opportunities, potentially adding future production growth while increasing execution and geopolitical exposure. ExxonMobil Is Moving New Oil Spending To Nigeria And Africa
• Negative Sentiment: Bank of America downgraded XOM from “buy” to “neutral.” Although it raised its price target to $158, the call signals limited near-term upside from current levels.
• Negative Sentiment: Easing Middle East tensions have contributed to lower oil prices, reducing the near-term earnings and cash-flow tailwind for ExxonMobil and other energy producers. Exxon Mobil Shares Fall as Oil Prices Tumble on Easing Middle East Tensions

Institutional Investors Weigh In On ExxonMobil

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in shares of ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares during the period. Norges Bank purchased a new position in ExxonMobil during the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp grew its holdings in ExxonMobil by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp increased its position in shares of ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after buying an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares during the period. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

The stock has a market capitalization of $635.01 billion, a PE ratio of 25.83, a P/E/G ratio of 0.64 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The business’s fifty day moving average price is $145.80 and its 200-day moving average price is $147.84.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. ExxonMobil’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 earnings per share. As a group, equities research analysts expect that ExxonMobil Corporation will post 11.55 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

ExxonMobil Company Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.