Exxon Mobil (NYSE:XOM) Stock Price Down 4% After Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM - Get Free Report)'s stock price dropped 4% during mid-day trading on Thursday after Mizuho lowered their price target on the stock from $131.00 to $129.00. Mizuho currently has a neutral rating on the stock. Exxon Mobil traded as low as $113.40 and last traded at $113.96. Approximately 6,232,076 shares changed hands during trading, a decline of 60% from the average daily volume of 15,660,658 shares. The stock had previously closed at $118.67.

Several other research firms have also recently weighed in on XOM. BMO Capital Markets cut their price objective on shares of Exxon Mobil from $130.00 to $123.00 and set a "market perform" rating for the company in a research report on Friday, January 31st. HSBC cut their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a "hold" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of Exxon Mobil from $130.00 to $125.00 and set an "overweight" rating on the stock in a research note on Monday, December 16th. Scotiabank lowered their price objective on shares of Exxon Mobil from $145.00 to $140.00 in a research report on Friday, January 31st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $115.00 target price on shares of Exxon Mobil in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $128.80.

Remove Ads

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,100 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the sale, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently made changes to their positions in the stock. Rockline Wealth Management LLC raised its holdings in Exxon Mobil by 6.1% during the 4th quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company's stock worth $2,788,000 after purchasing an additional 1,498 shares during the last quarter. Renasant Bank boosted its position in shares of Exxon Mobil by 5.0% during the 4th quarter. Renasant Bank now owns 10,369 shares of the oil and gas company's stock valued at $1,115,000 after purchasing an additional 493 shares in the last quarter. Helen Stephens Group LLC grew its stake in Exxon Mobil by 7.3% during the fourth quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company's stock worth $4,479,000 after purchasing an additional 2,825 shares during the period. Merewether Investment Management LP grew its position in shares of Exxon Mobil by 3.2% during the 3rd quarter. Merewether Investment Management LP now owns 307,243 shares of the oil and gas company's stock worth $36,015,000 after buying an additional 9,600 shares during the period. Finally, Hartford Funds Management Co LLC acquired a new stake in Exxon Mobil in the fourth quarter worth $543,000. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

The business has a 50-day moving average of $111.20 and a 200 day moving average of $113.89. The firm has a market capitalization of $494.53 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 3.02 and a beta of 0.60. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing analysts' consensus estimates of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period last year, the business earned $2.48 EPS. On average, sell-side analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil's dividend payout ratio (DPR) is 50.51%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.