ExxonMobil (NYSE:XOM) Stock Falls 2.5% – Time to Sell?

ExxonMobil Corporation (NYSE:XOM)’s stock price traded down 2.5% during trading on Tuesday. The company traded as low as $179.77 and last traded at $179.8710. 14,005,113 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 17,741,350 shares. The stock had previously closed at $184.54.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts expect higher crude prices and stronger refining margins to support ExxonMobil’s third-quarter results. Some forecasts also suggest XOM could exceed consensus earnings expectations, making the upcoming report the primary catalyst for the stock. ExxonMobil Q3 earnings expectations
• Positive Sentiment: Options-market data indicates investors are positioned for a post-earnings rally, while Barchart says Wall Street remains optimistic about ExxonMobil’s growth prospects. Barchart XOM earnings outlook
• Positive Sentiment: A tribunal dismissed Kazakhstan’s approximately $12 billion Kashagan arbitration claim, removing the immediate risk of a potentially significant financial liability for ExxonMobil and its partners. ExxonMobil Kazakhstan arbitration ruling
• Positive Sentiment: State Street’s energy ETF purchased an additional $26.1 million of XOM, providing a modest institutional-demand signal. ExxonMobil is also benefiting from elevated energy prices and increased access to Venezuelan crude for refining. State Street XOM purchase
• Neutral Sentiment: Commentary continues to debate whether ExxonMobil’s strong multiyear rally is supported by durable cash flow from production growth, Guyana discoveries and refining operations, or is mainly driven by cyclical oil prices. ExxonMobil valuation analysis
• Negative Sentiment: Jim Cramer favors Chevron over ExxonMobil ahead of both companies’ earnings reports, creating a relative-performance overhang if XOM’s results or outlook disappoint. Cramer compares Chevron and Exxon
• Negative Sentiment: After the share-price surge, XOM’s dividend yield is near historic lows, raising concerns for income investors. Rising interest rates could also pressure the valuation of energy equities and make dividend income less attractive relative to bonds. ExxonMobil dividend analysis

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on XOM shares. Mizuho cut their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Piper Sandler increased their target price on ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Jefferies Financial Group lifted their price target on ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. DZ Bank lowered ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target for the company. in a report on Tuesday, August 4th. Finally, William Blair initiated coverage on shares of ExxonMobil in a report on Wednesday. They issued a “market perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $167.70.

ExxonMobil Trading Up 0.2%

The firm has a market capitalization of $756.33 billion, a P/E ratio of 23.49, a PEG ratio of 0.92 and a beta of 0.21. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $166.99 and a 200-day moving average price of $153.74.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same period last year, the business earned $1.64 earnings per share. Analysts anticipate that ExxonMobil Corporation will post 13.61 earnings per share for the current year.

Hedge Funds Weigh In On ExxonMobil

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CPA Asset Management Group LLC increased its stake in ExxonMobil by 1.8% in the third quarter. CPA Asset Management Group LLC now owns 3,450 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 60 shares in the last quarter. DecisionMap Wealth Management LLC boosted its holdings in ExxonMobil by 2.2% in the third quarter. DecisionMap Wealth Management LLC now owns 2,915 shares of the oil and gas company’s stock worth $474,000 after acquiring an additional 62 shares in the last quarter. WP Advisors LLC boosted its holdings in ExxonMobil by 3.0% in the third quarter. WP Advisors LLC now owns 2,167 shares of the oil and gas company’s stock worth $353,000 after acquiring an additional 63 shares in the last quarter. Avant Capital LLC grew its stake in ExxonMobil by 0.6% in the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock valued at $1,529,000 after acquiring an additional 65 shares during the period. Finally, Impact Partnership Wealth LLC grew its stake in ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after acquiring an additional 67 shares during the period. 61.80% of the stock is owned by institutional investors.

About ExxonMobil

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.