Q3 2024 Earnings Forecast for Exxon Mobil Co. Issued By Zacks Research (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOM - Free Report) - Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for Exxon Mobil in a research report issued to clients and investors on Thursday, September 19th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings of $1.95 per share for the quarter, down from their prior estimate of $2.13. The consensus estimate for Exxon Mobil's current full-year earnings is $8.36 per share. Zacks Research also issued estimates for Exxon Mobil's Q4 2024 earnings at $1.77 EPS, FY2024 earnings at $7.91 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $2.13 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at $2.42 EPS, FY2025 earnings at $8.61 EPS, Q1 2026 earnings at $2.26 EPS and FY2026 earnings at $9.41 EPS.

XOM has been the subject of a number of other research reports. Barclays lowered their target price on Exxon Mobil from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Tuesday, July 9th. Sanford C. Bernstein reduced their price target on Exxon Mobil from $139.00 to $138.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 17th. Evercore ISI raised Exxon Mobil to a "strong-buy" rating in a research report on Monday, August 5th. Mizuho upped their price target on Exxon Mobil from $128.00 to $130.00 and gave the stock a "neutral" rating in a research report on Monday, September 16th. Finally, UBS Group reduced their price target on Exxon Mobil from $157.00 to $149.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of "Moderate Buy" and an average price target of $135.76.

Exxon Mobil Stock Down 0.6 %

Exxon Mobil stock opened at $115.27 on Monday. The business has a fifty day moving average of $115.88 and a two-hundred day moving average of $115.46. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The firm has a market cap of $454.51 billion, a P/E ratio of 14.13, a P/E/G ratio of 4.38 and a beta of 0.90. Exxon Mobil has a twelve month low of $95.77 and a twelve month high of $123.75.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. Exxon Mobil's revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil's dividend payout ratio is currently 46.57%.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. Gilbert & Cook Inc. grew its position in Exxon Mobil by 2.2% during the 4th quarter. Gilbert & Cook Inc. now owns 25,473 shares of the oil and gas company's stock worth $2,547,000 after purchasing an additional 545 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Exxon Mobil by 5.0% during the 4th quarter. Aveo Capital Partners LLC now owns 20,530 shares of the oil and gas company's stock worth $2,053,000 after acquiring an additional 984 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Exxon Mobil by 42.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 18,736 shares of the oil and gas company's stock worth $1,827,000 after acquiring an additional 5,565 shares in the last quarter. AXS Investments LLC boosted its stake in shares of Exxon Mobil by 8.0% during the 4th quarter. AXS Investments LLC now owns 2,444 shares of the oil and gas company's stock worth $244,000 after acquiring an additional 180 shares in the last quarter. Finally, Sepio Capital LP boosted its stake in shares of Exxon Mobil by 37.3% during the 4th quarter. Sepio Capital LP now owns 6,909 shares of the oil and gas company's stock worth $691,000 after acquiring an additional 1,876 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

About Exxon Mobil

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.