ExxonMobil (NYSE:XOM) Shares Down 3.6% – Time to Sell?

Shares of ExxonMobil Corporation (NYSE:XOM) dropped 3.6% during trading on Wednesday . The company traded as low as $162.56 and last traded at $163.1940. 13,267,390 shares changed hands during trading, a decline of 29% from the average daily volume of 18,586,701 shares. The stock had previously closed at $169.32.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil raised its long-term LNG sales target to 50 million metric tons annually by 2030, up from 40 million tons previously. The increase reflects management’s confidence in sustained global LNG demand and strengthens the company’s growth outlook. ExxonMobil’s LNG Ambitions Just Got A Major Upgrade
• Positive Sentiment: ExxonMobil’s subsidiary completed cash tender offers for more than $1.18 billion of Pioneer Natural Resources notes, advancing post-acquisition debt integration and potentially simplifying its capital structure. ExxonMobil Stock Gains as Pioneer Debt Tender Results Top $1.18 Billion
• Positive Sentiment: Texas regulators approved the Rose carbon-capture and storage project, a proposed $5 billion development covering about 13,000 acres. The project could create a new lower-carbon business opportunity, although its economics depend on execution and policy support. Texas Regulator Approves Exxon’s Carbon Capture Project
• Positive Sentiment: Higher crude prices, driven by concerns over supply disruptions, are favorable for ExxonMobil’s upstream earnings and are helping support broader energy-sector sentiment.
• Neutral Sentiment: ExxonMobil is targeting upstream production of 5.5 million barrels of oil equivalent per day by 2030, led by low-cost assets in Guyana and the Permian Basin. Analysts are also questioning whether Guyana output could temporarily weaken, making execution a key issue for investors. Will ExxonMobil’s Guyana and Permian Assets Power Its Upstream Business?
• Neutral Sentiment: A Wood contract for ExxonMobil’s Papua New Guinea LNG project supports long-term project development but also highlights continued capital and execution requirements.
• Negative Sentiment: A power outage shut ExxonMobil’s 264,000-barrel-per-day Joliet refinery in Illinois. Although tight fuel supplies may support refining margins and gasoline prices, the outage risks lost production, repair costs and reduced near-term earnings.
• Negative Sentiment: ExxonMobil reported more than 54,000 pounds of unauthorized air pollution at its Baytown refinery, adding potential regulatory, legal and reputational risks. ExxonMobil Releases Unauthorized Air Pollution at Baytown Refinery

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Morgan Stanley raised their price target on shares of ExxonMobil from $168.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. DZ Bank downgraded ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target for the company. in a research note on Tuesday, August 4th. Bank of America lowered ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $154.00 to $158.00 in a report on Tuesday, July 28th. Finally, TD Cowen increased their price objective on ExxonMobil from $155.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.45.

ExxonMobil Trading Down 3.6%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $676.43 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.01 and a beta of 0.18. The firm has a fifty day moving average price of $156.76 and a 200-day moving average price of $153.03.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion during the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period in the prior year, the firm posted $1.64 EPS. On average, equities research analysts anticipate that ExxonMobil Corporation will post 11.93 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s dividend payout ratio (DPR) is presently 53.02%.

Hedge Funds Weigh In On ExxonMobil

Institutional investors and hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC increased its position in ExxonMobil by 6.8% in the second quarter. Anchor Investment Management LLC now owns 89,385 shares of the oil and gas company’s stock worth $12,221,000 after buying an additional 5,705 shares during the last quarter. Bullseye Investment Management LLC purchased a new position in shares of ExxonMobil during the 2nd quarter valued at $83,000. Talon Private Wealth LLC grew its stake in shares of ExxonMobil by 30.6% during the 2nd quarter. Talon Private Wealth LLC now owns 23,194 shares of the oil and gas company’s stock worth $3,171,000 after acquiring an additional 5,440 shares during the period. Rench Wealth Management Inc. increased its holdings in ExxonMobil by 0.6% in the 2nd quarter. Rench Wealth Management Inc. now owns 51,586 shares of the oil and gas company’s stock worth $7,053,000 after acquiring an additional 323 shares during the last quarter. Finally, Miramontes Capital LLC raised its stake in ExxonMobil by 9.2% in the 2nd quarter. Miramontes Capital LLC now owns 16,917 shares of the oil and gas company’s stock valued at $2,313,000 after acquiring an additional 1,425 shares during the period. 61.80% of the stock is owned by institutional investors.

About ExxonMobil

Exxon Mobil Corporation, doing business as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and marketing of crude oil and natural gas. Its upstream operations support oil and natural gas production in multiple regions worldwide, while its downstream businesses refine crude oil into fuels and other petroleum products for commercial, industrial and consumer markets.

Through its product solutions businesses, ExxonMobil manufactures and markets lubricants, specialty fluids, petroleum-derived products and chemical products, including commodity and performance chemicals used in packaging, automotive components, construction materials and other industrial applications.