Exxon Mobil (NYSE:XOM) Sets New 52-Week High - Here's Why

Exxon Mobil Co. (NYSE:XOM - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $124.18 and last traded at $123.88, with a volume of 3274885 shares traded. The stock had previously closed at $122.58.

Wall Street Analyst Weigh In

XOM has been the topic of several recent research reports. UBS Group decreased their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Sanford C. Bernstein lowered their price objective on Exxon Mobil from $139.00 to $138.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 17th. Truist Financial dropped their target price on Exxon Mobil from $121.00 to $117.00 and set a "hold" rating for the company in a report on Monday. Evercore ISI raised Exxon Mobil to a "strong-buy" rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exxon Mobil currently has an average rating of "Moderate Buy" and a consensus price target of $134.18.

Exxon Mobil Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $116.31 and a two-hundred day moving average price of $115.98. The company has a market cap of $492.05 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 4.86 and a beta of 0.90.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.10. The firm had revenue of $93.06 billion for the quarter, compared to analysts' expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 earnings per share. Analysts predict that Exxon Mobil Co. will post 8.06 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.05%. Exxon Mobil's dividend payout ratio (DPR) is presently 46.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Etfidea LLC lifted its holdings in Exxon Mobil by 3.3% in the second quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company's stock worth $307,000 after buying an additional 85 shares during the period. Bigelow Investment Advisors LLC lifted its stake in shares of Exxon Mobil by 0.6% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company's stock valued at $1,559,000 after purchasing an additional 86 shares during the period. Integral Investment Advisors Inc. boosted its position in shares of Exxon Mobil by 2.1% during the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company's stock valued at $483,000 after purchasing an additional 87 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Exxon Mobil by 15.2% in the second quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company's stock worth $76,000 after purchasing an additional 87 shares during the period. Finally, Mascoma Wealth Management LLC raised its holdings in Exxon Mobil by 7.0% in the second quarter. Mascoma Wealth Management LLC now owns 1,343 shares of the oil and gas company's stock worth $155,000 after purchasing an additional 88 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

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.