ExxonMobil (NYSE:XOM) Shares Down 1.3% – What’s Next?

ExxonMobil Corporation (NYSE:XOM)’s share price traded down 1.3% during mid-day trading on Wednesday . The company traded as low as $145.75 and last traded at $147.8020. 16,121,665 shares were traded during trading, a decline of 23% from the average session volume of 21,034,359 shares. The stock had previously closed at $149.81.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil won shareholder approval to reincorporate in Texas, a move that could give the company a more management-friendly legal environment and improve flexibility for future strategic decisions. Exxon Goes All-In on Texas. It’s a Corporate Power Play.
• Positive Sentiment: Occidental Petroleum is taking a 10% stake in ExxonMobil’s deepwater Trinidad and Tobago field, which validates the asset and may help share development costs and project risk. Exclusive: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Positive Sentiment: ExxonMobil is seeking Guyana EPA clearance for its ninth Stabroek development, showing continued growth in one of its most important long-life oil projects. ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Media reports say ExxonMobil may be exploring a return to Venezuela, but the situation is still preliminary and any impact depends on regulatory and political approvals. Exxon Mobil (XOM) in Talks to Re-Enter Venezuela After Nearly Two Decades
• Neutral Sentiment: Energy-sector stock weakness and softer oil prices are creating a headwind for ExxonMobil, which can offset some of the company-specific positives. Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Reports that oil prices slipped after comments from President Trump on Iran talks add pressure to ExxonMobil, since lower crude prices can weigh on upstream earnings and sentiment. USO, UCO, BATL, XOM Slip: Oil Dips Below $100 After Trump Says Iran Talks ‘Proceeding Nicely’

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. TD Cowen reduced their price objective on shares of ExxonMobil from $175.00 to $172.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Mizuho boosted their price objective on shares of ExxonMobil from $159.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. Finally, Morgan Stanley dropped their target price on shares of ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.55.

ExxonMobil Trading Down 1.3%

The stock has a market cap of $612.63 billion, a P/E ratio of 24.92, a PEG ratio of 0.68 and a beta of 0.19. The stock’s fifty day moving average price is $155.70 and its 200 day moving average price is $139.67. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. ExxonMobil’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 EPS. Equities research analysts expect that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. ExxonMobil’s payout ratio is presently 69.48%.

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 2,150 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president owned 18,204 shares in the company, valued at $2,872,955.28. The trade was a 10.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ExxonMobil

Hedge funds have recently bought and sold shares of the company. Capital Investment Advisors LLC increased its holdings in ExxonMobil by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock worth $27,857,000 after acquiring an additional 14,233 shares in the last quarter. New Age Alpha Advisors LLC increased its holdings in ExxonMobil by 5.6% in the 3rd quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company’s stock worth $18,778,000 after acquiring an additional 8,853 shares in the last quarter. HORAN Wealth LLC increased its holdings in ExxonMobil by 78.3% in the 3rd quarter. HORAN Wealth LLC now owns 13,180 shares of the oil and gas company’s stock worth $1,486,000 after acquiring an additional 5,788 shares in the last quarter. Krilogy Financial LLC increased its holdings in ExxonMobil by 46.6% in the 3rd quarter. Krilogy Financial LLC now owns 35,160 shares of the oil and gas company’s stock worth $3,997,000 after acquiring an additional 11,177 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co increased its holdings in ExxonMobil by 8.6% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 655,303 shares of the oil and gas company’s stock worth $73,885,000 after acquiring an additional 51,900 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Company Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.