ExxonMobil (NYSE:XOM) Downgraded by Wells Fargo & Company to Hold

Wells Fargo & Company lowered shares of ExxonMobil (NYSE:XOM) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks reports.

A number of other brokerages have also issued reports on XOM. Mizuho cut their price target on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. BNP Paribas Exane cut their price target on ExxonMobil from $165.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Morgan Stanley lifted their target price on shares of ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Bank of America cut ExxonMobil from a “buy” rating to a “neutral” rating and increased their price objective for the company from $154.00 to $158.00 in a research report on Tuesday, July 28th. Finally, Barclays decreased their target price on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Eleven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $164.78.

ExxonMobil Stock Up 0.6%

Shares of NYSE XOM opened at $163.80 on Wednesday. The stock has a market capitalization of $678.93 billion, a PE ratio of 21.08, a P/E/G ratio of 0.96 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The business’s fifty day moving average price is $160.47 and its 200-day moving average price is $153.89. ExxonMobil has a one year low of $110.39 and a one year high of $176.41.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period in the previous year, the company earned $1.64 EPS. On average, equities research analysts anticipate that ExxonMobil will post 12.4 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s payout ratio is currently 53.02%.

Institutional Trading of ExxonMobil

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of ExxonMobil by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock valued at $4,812,790,000 after purchasing an additional 1,540,902 shares during the period. Amundi raised its stake in ExxonMobil by 5.1% in the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock worth $4,158,563,000 after buying an additional 1,192,386 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ExxonMobil by 3.4% during the 4th quarter. Invesco Ltd. now owns 17,367,358 shares of the oil and gas company’s stock worth $2,089,988,000 after purchasing an additional 577,181 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of ExxonMobil by 153.3% in the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after buying an additional 10,214,420 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ExxonMobil by 18.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock worth $1,925,119,000 after purchasing an additional 2,465,410 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s low-cost Guyana and Permian Basin assets, expected production growth and cost reductions are viewed as drivers of stronger long-term earnings and cash flow. ExxonMobil’s Advantageous Upstream Assets to Fuel Long-Term Growth
• Positive Sentiment: Record or elevated diesel prices could improve refining margins and increase pricing power for ExxonMobil, particularly while refined-fuel supplies remain constrained despite improving crude transportation through the Strait of Hormuz. Diesel Prices Are Surging and ExxonMobil Stock Could Benefit
• Positive Sentiment: Potential crude-supply agreements with Vietnam could deepen ExxonMobil’s regional energy relationships and expand future crude, LNG and LPG opportunities. Chevron & ExxonMobil Ink Potential Crude Supply Deals With Vietnam
• Positive Sentiment: A U.S. consumer lawsuit over plastics-recycling claims was dismissed, removing a potential litigation overhang. Exxon, others defeat consumer lawsuit over plastic recycling claims
• Neutral Sentiment: Wells Fargo reaffirmed its “equal weight” rating but raised its price target to $182, implying additional upside while signaling that the analyst does not see a strong reason to materially outperform peers.
• Neutral Sentiment: ExxonMobil’s selection of SLB’s OneSubsea venture for the first phase of Mozambique’s Rovuma LNG project supports future growth, though the project will require substantial investment and has a long development timeline. ExxonMobil Taps SLB Venture for Giant African LNG Project
• Negative Sentiment: Refiners such as Marathon Petroleum and Valero are outperforming integrated majors, indicating that investors currently favor direct exposure to strong fuel margins over ExxonMobil’s broader upstream and downstream portfolio. Refiners Outrun Integrated Majors
• Negative Sentiment: ExxonMobil and other oil companies reportedly face a potential $5.2 billion Kazakhstan fine, creating an unresolved legal and financial risk. Market Chatter: ExxonMobil Faces Kazakhstan Fine

About ExxonMobil

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.