Exxon Mobil (NYSE:XOM) Trading 1.2% Higher on Analyst Upgrade

Exxon Mobil Corporation (NYSE:XOM)’s stock price rose 1.2% on Tuesday after Piper Sandler raised their price target on the stock from $141.00 to $144.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as high as $120.81 and last traded at $119.6960. Approximately 16,062,580 shares changed hands during trading, a decline of 1% from the average daily volume of 16,164,887 shares. The stock had previously closed at $118.22.

XOM has been the topic of several other research reports. Wells Fargo & Company initiated coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They issued an “overweight” rating and a $156.00 price objective on the stock. Melius Research assumed coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Bank of America raised their price target on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Morgan Stanley raised their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, UBS Group upped their price objective on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Exxon Mobil during the second quarter valued at $6,163,719,000. Nuveen LLC purchased a new stake in Exxon Mobil during the 1st quarter valued at $2,730,414,000. GQG Partners LLC boosted its position in Exxon Mobil by 15,135.7% in the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company’s stock worth $1,197,753,000 after purchasing an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Exxon Mobil during the second quarter valued at approximately $607,621,000. Finally, First Trust Advisors LP raised its holdings in Exxon Mobil by 150.2% in the 2nd quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock worth $819,560,000 after purchasing an additional 4,563,707 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

The company has a market cap of $504.78 billion, a P/E ratio of 17.00, a PEG ratio of 2.06 and a beta of 0.49. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $113.53 and its 200 day simple moving average is $110.37.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion for the quarter. Sell-side analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 3.4%. Exxon Mobil’s dividend payout ratio is currently 59.88%.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.