ExxonMobil (NYSE:XOM) Trading Down 1% on Analyst Downgrade

Shares of ExxonMobil Corporation (NYSE:XOM) fell 1% during mid-day trading on Tuesday after Bank of America downgraded the stock from a buy rating to a neutral rating. Bank of America now has a $158.00 price target on the stock, up from their previous price target of $154.00. ExxonMobil traded as low as $151.88 and last traded at $153.20. Approximately 16,227,742 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 19,696,660 shares. The stock had previously closed at $154.77.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group boosted their target price on ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. DZ Bank raised ExxonMobil to a “strong-buy” rating in a report on Monday, July 6th. Piper Sandler began coverage on ExxonMobil in a research report on Thursday, July 23rd. They set a “neutral” rating and a $158.00 price target for the company. Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Mizuho decreased their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ExxonMobil has an average rating of “Moderate Buy” and a consensus price target of $163.45.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil enters its second-quarter earnings report with 43 consecutive years of dividend growth and a planned $20 billion annual share-repurchase program, supporting the stock’s income and capital-return appeal. The Single Biggest Reason to Buy Exxon Mobil Before July 31st
• Positive Sentiment: Analysts remain moderately optimistic after ExxonMobil outperformed the broader market over the past year. A potential sustained oil price above $100 per barrel could materially boost cash generation for large upstream producers such as ExxonMobil. Are Wall Street Analysts Predicting ExxonMobil Stock Will Climb or Sink?
• Neutral Sentiment: ExxonMobil’s second-quarter earnings setup is mixed: profit and revenue estimates have moved higher, but the stock’s relatively premium valuation may limit enthusiasm for new positions ahead of the report. ExxonMobil’s Q2 Earnings on Deck: Should You Bet on the Stock?
• Neutral Sentiment: ExxonMobil is reportedly redirecting new oil investment toward Nigeria and other African opportunities, potentially adding future production growth while increasing execution and geopolitical exposure. ExxonMobil Is Moving New Oil Spending To Nigeria And Africa
• Negative Sentiment: Bank of America downgraded XOM from “buy” to “neutral.” Although it raised its price target to $158, the call signals limited near-term upside from current levels.
• Negative Sentiment: Easing Middle East tensions have contributed to lower oil prices, reducing the near-term earnings and cash-flow tailwind for ExxonMobil and other energy producers. Exxon Mobil Shares Fall as Oil Prices Tumble on Easing Middle East Tensions

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in XOM. Eagle Capital Management LLC boosted its holdings in shares of ExxonMobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after purchasing an additional 376 shares in the last quarter. Caxton Associates LLP bought a new position in shares of ExxonMobil during the 1st quarter valued at about $305,000. Sivia Capital Partners LLC raised its holdings in shares of ExxonMobil by 1.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock valued at $1,211,000 after buying an additional 207 shares in the last quarter. United Bank lifted its position in ExxonMobil by 2.8% in the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock worth $2,352,000 after buying an additional 600 shares during the last quarter. Finally, Schnieders Capital Management LLC. lifted its position in ExxonMobil by 17.4% in the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after buying an additional 5,443 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Price Performance

The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $145.80 and its 200 day simple moving average is $147.84. The firm has a market capitalization of $635.01 billion, a P/E ratio of 25.83, a PEG ratio of 0.64 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion for 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 business’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. Sell-side analysts forecast that ExxonMobil Corporation will post 11.55 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

ExxonMobil Company Profile

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.