Exxon Mobil Co. (NYSE:XOM – Get Rating) – Jefferies Financial Group upped their FY2023 earnings per share estimates for shares of Exxon Mobil in a research note issued to investors on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now expects that the oil and gas company will earn $10.74 per share for the year, up from their prior estimate of $10.36. Jefferies Financial Group has a “Buy” rating and a $133.00 price target on the stock. The consensus estimate for Exxon Mobil’s current full-year earnings is $13.92 per share. Jefferies Financial Group also issued estimates for Exxon Mobil’s FY2024 earnings at $9.54 EPS.
A number of other equities research analysts have also issued reports on the company. Exane BNP Paribas upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 price target for the company in a research report on Tuesday, November 1st. Bank of America upped their price target on Exxon Mobil from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Monday, August 1st. StockNews.com started coverage on Exxon Mobil in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley increased their price objective on Exxon Mobil from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 19th. Finally, Piper Sandler increased their price objective on Exxon Mobil from $113.00 to $131.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.95.
Exxon Mobil Price Performance
Exxon Mobil (NYSE:XOM – Get Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $4.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $1.00. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. The company had revenue of $112.07 billion during the quarter, compared to analysts’ expectations of $102.96 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. Exxon Mobil’s quarterly revenue was up 51.9% compared to the same quarter last year.
Exxon Mobil Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th will be paid a $0.91 dividend. The ex-dividend date is Monday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 3.28%. Exxon Mobil’s dividend payout ratio (DPR) is currently 29.71%.
Insider Buying and Selling at Exxon Mobil
In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $110.47, for a total value of $276,175.00. Following the sale, the vice president now directly owns 25,363 shares in the company, valued at $2,801,850.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by insiders.
Institutional Investors Weigh In On Exxon Mobil
A number of institutional investors have recently added to or reduced their stakes in XOM. Vanguard Group Inc. raised its holdings in Exxon Mobil by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 364,432,696 shares of the oil and gas company’s stock valued at $30,098,496,000 after acquiring an additional 8,825,023 shares during the last quarter. FMR LLC raised its stake in shares of Exxon Mobil by 14.9% in the 2nd quarter. FMR LLC now owns 135,144,175 shares of the oil and gas company’s stock valued at $11,573,746,000 after purchasing an additional 17,521,080 shares in the last quarter. GQG Partners LLC raised its stake in Exxon Mobil by 59.9% during the first quarter. GQG Partners LLC now owns 51,800,709 shares of the oil and gas company’s stock worth $4,277,527,000 after acquiring an additional 19,403,556 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Exxon Mobil by 94.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock worth $3,463,672,000 after acquiring an additional 19,230,872 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Exxon Mobil by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock worth $2,575,190,000 after acquiring an additional 560,517 shares during the period. Hedge funds and other institutional investors own 56.84% of the company’s stock.
Exxon Mobil Company Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.
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