ExxonMobil (NYSE:XOM) Stock Price Down 1.6% – Here’s What Happened

ExxonMobil Corporation (NYSE:XOM)’s stock price fell 1.6% during trading on Monday . The company traded as low as $152.50 and last traded at $154.5050. Approximately 13,947,145 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 19,719,760 shares. The stock had previously closed at $156.94.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Geopolitical tensions lifted oil prices. U.S.-Iran military escalation reduced expectations that the Strait of Hormuz would quickly reopen, pushing crude prices higher. Sustained elevated oil prices could improve ExxonMobil’s upstream earnings and cash generation. Oil Prices Jump After U.S. and Iran Strikes Hit Hormuz Hopes
• Positive Sentiment: ExxonMobil agreed to a carbon-capture and storage project with Williams in Louisiana. The project is intended to support natural-gas processing and expands ExxonMobil’s lower-carbon infrastructure activities, although the reports did not disclose a material near-term earnings contribution. ExxonMobil agrees to new CCS project with Williams
• Positive Sentiment: Investors are looking ahead to the July 31 earnings report. Analysts expect improved quarterly profit and revenue estimates, while ExxonMobil’s 43-year dividend-growth record and planned $20 billion annual share-repurchase program remain important supports for the investment case. ExxonMobil Q2 Earnings Preview
• Positive Sentiment: Value-focused commentary is attracting support. Zacks highlighted ExxonMobil as a strong value stock, which may reinforce interest following its recent outperformance and relatively shareholder-friendly capital-return profile. Why ExxonMobil Is a Strong Value Stock
• Negative Sentiment: Bank of America downgraded XOM from Buy to Neutral. The firm raised its price target to $158, but the target implies very limited near-term upside, suggesting that much of the oil-price and earnings optimism may already be reflected in the stock. ExxonMobil Offers Limited Upside Potential
• Negative Sentiment: Valuation and sector weakness remain risks. Analysts noted ExxonMobil’s premium valuation ahead of earnings, while energy stocks declined late Tuesday. A retreat in crude prices or disappointing results could therefore pressure the shares. Sector Update: Energy Stocks Decline

Wall Street Analyst Weigh In

XOM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. UBS Group raised their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price target for the company from $154.00 to $158.00 in a report on Tuesday. Weiss Ratings downgraded shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $163.45.

ExxonMobil Price Performance

The firm’s 50 day simple moving average is $145.60 and its 200 day simple moving average is $148.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock has a market capitalization of $653.14 billion, a PE ratio of 26.62, a P/E/G ratio of 0.63 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.55 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. ExxonMobil’s payout ratio is 69.48%.

Institutional Investors Weigh In On ExxonMobil

A number of hedge funds and other institutional investors have recently modified their holdings of XOM. Assetmark Inc. boosted its holdings in ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after acquiring an additional 37,666 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in ExxonMobil by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock worth $126,166,000 after acquiring an additional 23,668 shares during the period. Midwest Trust Co grew its stake in ExxonMobil by 3.9% in the 1st quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock valued at $120,623,000 after purchasing an additional 26,411 shares during the period. King Luther Capital Management Corp raised its stake in shares of ExxonMobil by 2.4% during the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock worth $200,366,000 after purchasing an additional 38,492 shares during the period. Finally, Valpey Financial Services LLC boosted its holdings in shares of ExxonMobil by 12,037.6% in the 4th quarter. Valpey Financial Services LLC now owns 476,400 shares of the oil and gas company’s stock worth $57,330,000 after buying an additional 472,475 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

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.