Exxon Mobil (NYSE:XOM) Stock Price Down 4.1% Following Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM) shares dropped 4.1% during trading on Friday 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 $106.10 and last traded at $107.77. Approximately 8,614,673 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 15,692,984 shares. The stock had previously closed at $112.43.

XOM has been the topic 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 on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group lowered their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 price objective on shares of Exxon Mobil in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Barclays cut their target price on Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $128.80.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the sale, the vice president now owns 18,087 shares of the company’s stock, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Exxon Mobil

Several large investors have recently made changes to their positions in XOM. 10Elms LLP purchased a new position in Exxon Mobil during the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Exxon Mobil in the 4th quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in Exxon Mobil in the 4th quarter worth about $32,000. Keystone Financial Group Inc. purchased a new stake in Exxon Mobil during the 4th quarter valued at about $36,000. Finally, Retirement Wealth Solutions LLC bought a new stake in Exxon Mobil during the 4th quarter valued at about $46,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

The firm’s fifty day simple moving average is $111.25 and its 200-day simple moving average is $113.87. The firm has a market capitalization of $463.88 billion, a PE ratio of 13.64, a PEG ratio of 3.02 and a beta of 0.60. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data 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 quarter in the previous year, the business earned $2.48 earnings per share. On average, research analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s payout ratio is currently 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.