Exxon Mobil (NYSE:XOM) Stock Price Down 2% Following Analyst Downgrade

Exxon Mobil Corporation (NYSE:XOM)’s share price traded down 2% during trading on Monday after Wells Fargo & Company lowered their price target on the stock from $158.00 to $156.00. Wells Fargo & Company currently has an overweight rating on the stock. Exxon Mobil traded as low as $138.06 and last traded at $138.51. 27,718,637 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 20,182,244 shares. The stock had previously closed at $141.40.

Other analysts have also recently issued reports about the stock. Piper Sandler dropped their price target on shares of Exxon Mobil from $144.00 to $142.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Barclays increased their target price on Exxon Mobil from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research report on Monday, December 29th. Citigroup boosted their price objective on Exxon Mobil from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, December 10th. Finally, Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.53.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $117.19, for a total transaction of $351,570.00. Following the sale, the vice president owned 28,584 shares in the company, valued at approximately $3,349,758.96. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently modified their holdings of the company. Midwest Capital Advisors LLC purchased a new position in Exxon Mobil in the 4th quarter worth approximately $27,000. Key Capital Management INC purchased a new position in shares of Exxon Mobil in the fourth quarter worth $28,000. Westfuller Advisors LLC bought a new stake in Exxon Mobil during the 3rd quarter valued at $30,000. Nvest Wealth Strategies Inc. purchased a new stake in Exxon Mobil during the 4th quarter valued at $32,000. Finally, DecisionPoint Financial LLC grew its holdings in Exxon Mobil by 968.0% in the 4th quarter. DecisionPoint Financial LLC now owns 267 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 242 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

The firm has a market cap of $584.12 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 14.93 and a beta of 0.37. The business’s fifty day simple moving average is $122.80 and its 200-day simple moving average is $116.15. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.08. Exxon Mobil had a net margin of 8.68% and a return on equity of 11.21%. The company had revenue of $82.31 billion during the quarter, compared to analyst estimates of $77.98 billion. During the same period in the prior year, the business posted $1.67 earnings per share. Exxon Mobil’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Thursday, February 12th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, February 12th. Exxon Mobil’s dividend payout ratio is currently 61.58%.

Exxon Mobil Company Profile

Exxon Mobil 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.