FY2024 EPS Estimates for Exxon Mobil Decreased by Scotiabank

Exxon Mobil Co. (NYSE:XOM - Free Report) - Research analysts at Scotiabank cut their FY2024 earnings estimates for Exxon Mobil in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the oil and gas company will earn $8.05 per share for the year, down from their previous estimate of $8.80. Scotiabank currently has a "Sector Outperform" rating and a $145.00 target price on the stock. The consensus estimate for Exxon Mobil's current full-year earnings is $7.95 per share. Scotiabank also issued estimates for Exxon Mobil's FY2025 earnings at $7.35 EPS.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the prior year, the firm posted $2.27 EPS. Exxon Mobil's revenue was down .8% compared to the same quarter last year.

XOM has been the subject of a number of other reports. Piper Sandler decreased their price target on Exxon Mobil from $138.00 to $127.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Truist Financial increased their target price on shares of Exxon Mobil from $117.00 to $119.00 and gave the company a "hold" rating in a research note on Monday. TD Cowen decreased their price target on shares of Exxon Mobil from $132.00 to $128.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group increased their price objective on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Finally, BMO Capital Markets lifted their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.84.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded up $2.73 on Monday, hitting $109.27. The company had a trading volume of 17,071,066 shares, compared to its average volume of 15,628,847. Exxon Mobil has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a market cap of $480.25 billion, a PE ratio of 13.61, a PEG ratio of 4.65 and a beta of 0.91. The business has a 50-day simple moving average of $113.31 and a 200-day simple moving average of $115.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position in Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company's stock worth $1,935,779,000 after acquiring an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA bought a new stake in Exxon Mobil in the second quarter worth $980,210,000. International Assets Investment Management LLC increased its position in Exxon Mobil by 7,761.0% during the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company's stock worth $808,077,000 after buying an additional 6,805,982 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company's stock valued at $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company's stock worth $3,719,296,000 after buying an additional 5,235,607 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This is a boost from Exxon Mobil's previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Thursday, November 14th. Exxon Mobil's payout ratio is currently 49.32%.

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.