ExxonMobil (NYSE:XOM) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of ExxonMobil (NYSE:XOM) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Citigroup boosted their price objective on ExxonMobil from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. UBS Group boosted their price objective on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Piper Sandler dropped their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Morgan Stanley dropped their price objective on ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $165.55.

ExxonMobil Trading Down 1.3%

NYSE XOM opened at $147.80 on Tuesday. The business’s 50-day moving average price is $155.51 and its two-hundred day moving average price is $139.90. ExxonMobil has a 12 month low of $101.18 and a 12 month high of $176.41. The firm has a market capitalization of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. 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 released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the company posted $1.76 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts expect that ExxonMobil will post 11.49 EPS for the current year.

ExxonMobil Dividend Announcement

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 dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,150 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares of the company’s stock, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisors LLC grew its holdings in shares of ExxonMobil by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock valued at $27,857,000 after acquiring an additional 14,233 shares in the last quarter. New Age Alpha Advisors LLC grew its holdings in shares of ExxonMobil by 5.6% in the third quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company’s stock valued at $18,778,000 after acquiring an additional 8,853 shares in the last quarter. HORAN Wealth LLC grew its holdings in shares of ExxonMobil by 78.3% in the third quarter. HORAN Wealth LLC now owns 13,180 shares of the oil and gas company’s stock valued at $1,486,000 after acquiring an additional 5,788 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of ExxonMobil by 46.6% in the third quarter. Krilogy Financial LLC now owns 35,160 shares of the oil and gas company’s stock valued at $3,997,000 after acquiring an additional 11,177 shares in the last quarter. Finally, Varma Mutual Pension Insurance Co grew its holdings in shares of ExxonMobil by 8.6% in the third quarter. Varma Mutual Pension Insurance Co now owns 655,303 shares of the oil and gas company’s stock valued at $73,885,000 after acquiring an additional 51,900 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

About ExxonMobil

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.