ExxonMobil (NYSE:XOM) Shares Down 4.2% – Here’s Why

Shares of ExxonMobil Corporation (NYSE:XOM) traded down 4.2% during mid-day trading on Monday . The stock traded as low as $137.72 and last traded at $140.8560. 23,471,546 shares traded hands during trading, an increase of 14% from the average session volume of 20,533,922 shares. The stock had previously closed at $147.01.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, saying the recent pullback has made the stock look undervalued. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil advanced growth plans in Guyana, applying for an additional 35-well exploration campaign in the Stabroek block, which could support long-term production growth. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Positive Sentiment: Exxon signed a preliminary agreement to supply LNG to South Africa’s first planned import terminal, adding another international gas opportunity and reinforcing its LNG expansion strategy. Exxon Mobil signs deal to supply South Africa’s first planned LNG terminal
• Neutral Sentiment: Analysts and market commentary continue to describe ExxonMobil as a relatively resilient, low-cost energy major, with some brokerages maintaining a Moderate Buy view despite oil-price volatility. Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
• Neutral Sentiment: Sector-wide energy shares are weaker as Brent and WTI fall on hopes for reduced Middle East supply risk, which is limiting upside for ExxonMobil in the near term. Sector Update: Energy Stocks Lower Wednesday Afternoon
• Negative Sentiment: Oil-market headlines tied to U.S.-Iran peace hopes and a possible reopening of the Strait of Hormuz have pressured crude prices, which can weigh on ExxonMobil’s earnings expectations and stock performance. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Some recent commentary is explicitly warning investors away from XOM, highlighting concerns tied to the oil-price backdrop and valuation versus alternatives. 2 reasons to avoid XOM and 1 stock to buy instead

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 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. Barclays raised their price objective on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised their price objective on ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, HSBC raised their price objective on ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and a consensus target price of $165.70.

ExxonMobil Stock Performance

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 stock has a market cap of $582.93 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 0.60 and a beta of 0.16. The stock’s 50-day moving average is $150.85 and its 200 day moving average is $143.10.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 earnings per share. As a group, analysts predict that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

Institutional Investors Weigh In On ExxonMobil

A number of hedge funds have recently added to or reduced their stakes in XOM. Berbice Capital Management LLC acquired a new stake in shares of ExxonMobil during the 4th quarter valued at approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil during the 4th quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 187 shares during the period. Key Capital Management INC acquired a new stake in shares of ExxonMobil during the 4th quarter valued at approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

About ExxonMobil

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.