Piper Sandler Issues Pessimistic Forecast for Exxon Mobil (NYSE:XOM) Stock Price

Exxon Mobil (NYSE:XOM) had its price target lowered by Piper Sandler from $138.00 to $127.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on XOM. The Goldman Sachs Group upped their price target on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. UBS Group decreased their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Morgan Stanley cut their price target on shares of Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.74.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $105.51 on Thursday. The company has a fifty day moving average price of $117.56 and a 200 day moving average price of $116.16. The firm has a market cap of $463.73 billion, a PE ratio of 13.14, a PEG ratio of 4.70 and a beta of 0.89. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 earnings per share. Research analysts predict that Exxon Mobil will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s payout ratio is currently 49.32%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of XOM. Fairway Wealth LLC bought a new stake in shares of Exxon Mobil in the second quarter valued at about $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares during the period. Fairscale Capital LLC acquired a new stake in Exxon Mobil in the 2nd quarter worth about $39,000. POM Investment Strategies LLC grew its position in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares in the last quarter. Finally, Hershey Financial Advisers LLC bought a new position in shares of Exxon Mobil during the second quarter worth approximately $46,000. 61.80% of the stock is owned by institutional investors.

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.