ExxonMobil (NYSE:XOM) Stock Price Up 1.2% – Time to Buy?

ExxonMobil Corporation (NYSE:XOM) shares shot up 1.2% during trading on Wednesday. The company traded as high as $164.37 and last traded at $163.35. Approximately 12,968,372 shares changed hands during trading, a decline of 30% from the average daily volume of 18,396,119 shares. The stock had previously closed at $161.35.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analyst support: An analyst upgrade and TD Cowen’s increased $180 price target are providing a bullish catalyst. TD Cowen also expects strong third-quarter refining earnings, which could support near-term results. ExxonMobil Shares Up Following Analyst Upgrade
• Positive Sentiment: Oil-price tailwind: WTI crude above $90 per barrel could boost ExxonMobil’s upstream cash flow, particularly from its low-cost Permian Basin operations and expanding Guyana production. Are Current Oil Prices High Enough to Fuel ExxonMobil’s Growth?
• Positive Sentiment: Growth initiatives: ExxonMobil and Chevron are pursuing potential crude, LNG and LPG supply agreements with Vietnam, while ExxonMobil selected SLB’s OneSubsea venture for the first phase of its large Rovuma LNG project in Mozambique. These projects expand long-term production and marketing opportunities. Chevron and ExxonMobil Ink Potential Crude Supply Deals With Vietnam
• Neutral Sentiment: Limited upside at current valuation: ExxonMobil has delivered a substantial multiyear gain and trades near its 52-week high. Price targets around $165–$180 suggest analysts see additional upside, but expectations for future cash flow are already elevated. ExxonMobil Got a $180 Target
• Negative Sentiment: Potential Kazakhstan liability: ExxonMobil, Shell, TotalEnergies and China National Petroleum reportedly face a potential $5.2 billion fine, creating a material legal and financial overhang if confirmed.
• Negative Sentiment: Energy-sector and policy risks: Recent weakness in the broader energy sector and discussion of a diesel export ban could pressure refining and fuel-market economics, despite a UK refinery shutdown potentially tightening diesel supplies.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their target price on shares of ExxonMobil from $168.00 to $169.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Wall Street Zen upgraded shares of ExxonMobil to a “hold” rating in a research note on Saturday, September 5th. Jefferies Financial Group boosted their target price on ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 17th. BNP Paribas Exane decreased their price target on ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Finally, BMO Capital Markets lifted their price target on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $164.78.

ExxonMobil Trading Up 1.2%

The firm has a market capitalization of $677.08 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.18. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $160.16 and its 200 day moving average is $153.77.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the prior year, the company posted $1.64 EPS. Equities analysts forecast that ExxonMobil Corporation will post 12.01 earnings per share for the current year.

ExxonMobil Announces Dividend

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

Hedge Funds Weigh In On ExxonMobil

Institutional investors have recently bought and sold shares of the stock. Assetmark Inc. raised its position in shares of ExxonMobil by 8.3% in the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after buying an additional 37,666 shares in the last quarter. Charles Schwab Trust Co lifted its position in ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after purchasing an additional 97,424 shares during the period. CV Advisors LLC grew its stake in ExxonMobil by 126.7% during the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after buying an additional 6,478 shares in the last quarter. Midwest Trust Co increased its holdings 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 buying an additional 26,411 shares during the period. Finally, Vise Technologies Inc. increased its holdings in ExxonMobil by 48.4% in the 4th quarter. Vise Technologies Inc. now owns 137,262 shares of the oil and gas company’s stock valued at $16,518,000 after buying an additional 44,767 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

About ExxonMobil

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.