Exxon Mobil (NYSE:XOM) Trading 1.8% Higher on Analyst Upgrade

Exxon Mobil Corporation (NYSE:XOM)’s share price shot up 1.8% during trading on Tuesday after BNP Paribas upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $120.47 and last traded at $118.0950. 23,782,192 shares changed hands during trading, an increase of 48% from the average session volume of 16,075,354 shares. The stock had previously closed at $115.98.

A number of other equities research analysts also recently commented on XOM. Wells Fargo & Company initiated coverage on shares of Exxon Mobil in a report on Friday, October 17th. They set an “overweight” rating and a $156.00 price target for the company. Melius Research assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Exxon Mobil in a report on Monday, December 1st. Barclays reduced their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Bank of America lifted their price objective on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.89.

Institutional Trading of Exxon Mobil

Large investors have recently added to or reduced their stakes in the business. Eagle Capital Management LLC raised its position in shares of Exxon Mobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after buying an additional 376 shares in the last quarter. Cove Private Wealth LLC increased its stake in shares of Exxon Mobil by 48.5% during the first quarter. Cove Private Wealth LLC now owns 15,946 shares of the oil and gas company’s stock valued at $1,896,000 after acquiring an additional 5,210 shares during the period. Ballast Inc. raised its holdings in Exxon Mobil by 0.9% during the first quarter. Ballast Inc. now owns 13,870 shares of the oil and gas company’s stock worth $1,650,000 after purchasing an additional 117 shares in the last quarter. Longfellow Investment Management Co. LLC raised its holdings in Exxon Mobil by 30.8% during the first quarter. Longfellow Investment Management Co. LLC now owns 17,868 shares of the oil and gas company’s stock worth $2,125,000 after purchasing an additional 4,208 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. lifted its position in Exxon Mobil by 12.3% in the first quarter. Financial Engines Advisors L.L.C. now owns 16,735 shares of the oil and gas company’s stock worth $1,991,000 after purchasing an additional 1,839 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 1.8%

The stock has a market capitalization of $498.03 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.38. The business has a 50 day simple moving average of $115.07 and a 200-day simple moving average of $111.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 1.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The business had revenue of $57.55 billion during the quarter. On average, analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is presently 59.88%.

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.