Exxon Mobil Corporation (NYSE:XOM) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS
Exxon Mobil Corporation (NYSE:XOM) posted its quarterly earnings results on Friday. The oil and gas company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by $0.05, MarketWatch Earnings reports. The business had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a net margin of 4.17% and a return on equity of 6.78%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share.
Exxon Mobil Corporation (NYSE XOM) traded down 1.52% during midday trading on Friday, reaching $79.60. The company had a trading volume of 22,800,785 shares. The stock has a market cap of $337.27 billion, a P/E ratio of 28.75 and a beta of 0.82. Exxon Mobil Corporation has a 12 month low of $78.27 and a 12 month high of $93.21. The firm has a 50-day moving average of $81.20 and a 200-day moving average of $82.16.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $3.08 dividend on an annualized basis and a yield of 3.87%. Exxon Mobil Corporation’s dividend payout ratio is 111.19%.
Several research analysts recently weighed in on the company. Scotiabank set a $86.00 price target on Exxon Mobil Corporation and gave the company a “buy” rating in a research report on Friday. Jefferies Group LLC set a $86.00 price target on Exxon Mobil Corporation and gave the company a “hold” rating in a research report on Thursday. Vetr raised Exxon Mobil Corporation from a “buy” rating to a “strong-buy” rating and set a $89.47 price target on the stock in a research report on Monday, July 24th. Citigroup Inc. dropped their price target on Exxon Mobil Corporation from $87.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Finally, Royal Bank Of Canada set a $88.00 price target on Exxon Mobil Corporation and gave the company a “neutral” rating in a research report on Thursday, July 20th. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Exxon Mobil Corporation has an average rating of “Hold” and an average target price of $85.46.
A number of hedge funds and other institutional investors have recently made changes to their positions in XOM. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Exxon Mobil Corporation during the fourth quarter valued at approximately $101,000. Horan Securities Inc. purchased a new position in shares of Exxon Mobil Corporation during the first quarter valued at approximately $102,000. Riggs Asset Managment Co. Inc. increased its position in shares of Exxon Mobil Corporation by 27.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 292 shares in the last quarter. Watermark Asset Management Inc. purchased a new position in shares of Exxon Mobil Corporation during the first quarter valued at approximately $136,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Exxon Mobil Corporation by 13.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,850 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 50.58% of the company’s stock.
About Exxon Mobil Corporation
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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