ExxonMobil (NYSE:XOM) Trading Up 2.5% – Here’s Why

ExxonMobil Corporation (NYSE:XOM)’s share price shot up 2.5% during mid-day trading on Wednesday . The stock traded as high as $159.07 and last traded at $156.80. 14,562,046 shares traded hands during trading, a decline of 26% from the average daily volume of 19,685,432 shares. The stock had previously closed at $153.04.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil prices jumped after escalating U.S.-Iran tensions reduced expectations that the Strait of Hormuz would quickly reopen. Higher crude prices could improve ExxonMobil’s upstream earnings and cash flow, particularly if the disruption persists. Oil Prices Jump After U.S. and Iran Strikes Hit Hormuz Hopes
• Positive Sentiment: Investors are positioning ahead of ExxonMobil’s July 31 earnings report. Analysts have raised profit and revenue expectations, while recent coverage points to potentially stronger results from higher oil prices. ExxonMobil’s Q2 Earnings on Deck
• Positive Sentiment: ExxonMobil’s shareholder-return profile remains a support: the company has increased its dividend for 43 consecutive years and is expected to continue a substantial annual share-repurchase program. The Single Biggest Reason to Buy Exxon Mobil Before July 31st
• Positive Sentiment: The company agreed to a carbon-capture and storage project with Williams supporting natural-gas processing in Louisiana, adding to ExxonMobil’s lower-carbon growth strategy and potential long-term revenue opportunities. ExxonMobil Agrees to New CCS Project with Williams
• Neutral Sentiment: ExxonMobil is being highlighted as a value stock and as one of the energy holdings disclosed by President Donald Trump. Those factors may attract attention, but the company’s operating results and oil prices remain more important to valuation. Why ExxonMobil Is a Strong Value Stock
• Negative Sentiment: Bank of America downgraded XOM from “buy” to “neutral,” citing limited upside and setting a $158 price target. The downgrade could cap gains even as near-term oil prices and earnings expectations improve. Exxon Mobil Offers Limited Upside Potential
• Negative Sentiment: Analysts have also cautioned that ExxonMobil’s premium valuation leaves less room for error ahead of earnings, while broader energy-sector weakness could weigh on the shares if crude prices retreat. ExxonMobil’s Q2 Earnings on Deck

Analysts Set New Price Targets

A number of equities analysts recently weighed in on XOM shares. Scotiabank upped their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein reduced their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. TD Cowen decreased their price target on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Wells Fargo & Company increased their price objective on shares of ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. 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. Based on data from MarketBeat, ExxonMobil has a consensus rating of “Moderate Buy” and a consensus price target of $163.45.

ExxonMobil Trading Up 2.5%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock’s fifty day moving average is $145.60 and its 200 day moving average is $148.08. The stock has a market cap of $649.93 billion, a P/E ratio of 26.44, a P/E/G ratio of 0.63 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data 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 previous year, the firm posted $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 research analysts predict that ExxonMobil Corporation will post 11.55 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

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

Institutional Trading of ExxonMobil

Several hedge funds and other institutional investors have recently bought and sold shares of XOM. Impact Partnership Wealth LLC raised its position in ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 67 shares during the period. Cardinal Strategic Wealth Guidance grew its position in shares of ExxonMobil by 1.9% during the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 68 shares during the period. Core Wealth Advisors Inc. increased its stake in shares of ExxonMobil by 1.0% during the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 68 shares during the last quarter. ICW Investment Advisors LLC increased its stake in shares of ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares during the last quarter. Finally, Swisher Financial Concepts Inc. increased its stake in shares of ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

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.