ExxonMobil (NYSE:XOM) Shares Down 2.1% – Time to Sell?

ExxonMobil Corporation (NYSE:XOM)’s stock price dropped 2.1% on Thursday . The company traded as low as $135.85 and last traded at $137.8450. Approximately 47,515,287 shares changed hands during mid-day trading, an increase of 130% from the average daily volume of 20,683,650 shares. The stock had previously closed at $140.74.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s production has reached its highest level in more than 40 years, supported by aggressive output growth in Guyana, Texas, and Papua New Guinea. Higher volumes at lower costs should support cash flow and investor confidence. Article: Darren Woods’ Game Plan at Exxon Mobil: Produce More Oil for Less Money
• Positive Sentiment: ExxonMobil is expanding its long-term growth pipeline in Guyana’s Stabroek Block, with plans to drill up to 35 new exploration and appraisal wells from 2028 through 2033. This could extend reserve growth and future production. Article: ExxonMobil Advances New Exploration Push in Guyana’s Stabroek Block
• Neutral Sentiment: ExxonMobil reportedly struck a deal with ZET for South Africa’s first LNG terminal, highlighting continued international LNG expansion efforts. This is strategically constructive, but the near-term stock impact is unclear. Article: ExxonMobil and ZET strike deal for South Africa’s first LNG terminal
• Neutral Sentiment: Commentary suggesting ExxonMobil could pursue another megamerger or LNG acquisition may support long-term strategic speculation, but it is not a confirmed catalyst. Article: ExxonMobil Has Its Sights on Its Next Megamerger. Here’s the Oil Stock It Should Buy.
• Negative Sentiment: ExxonMobil shares fell alongside other oil stocks after the U.S. and Iran reached an interim agreement that could reopen the Strait of Hormuz and lift sanctions on Tehran’s oil. The deal pressures crude prices, which can reduce upstream earnings for XOM. Article: ExxonMobil and Occidental Petroleum Stocks Trade Down, What You Need To Know
• Negative Sentiment: Recent market commentary notes ExxonMobil has been under sustained selling pressure over the past days and weeks, reflecting weaker oil prices and a softer sector backdrop. Article: Exxon Mobil (XOM) Stock Could Be 18.9% Undervalued Despite Recent Pullback

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Sanford C. Bernstein decreased their target price on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Bank of America upgraded ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price target for the company in a report on Tuesday. BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the stock a “neutral” rating in a research note on Friday, April 17th. Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Barclays lifted their price objective on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.70.

ExxonMobil Stock Performance

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 has a fifty day simple moving average of $149.98 and a two-hundred day simple moving average of $143.22. The stock has a market cap of $571.36 billion, a PE ratio of 23.25, a PEG ratio of 0.58 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 yield of 3.0%. ExxonMobil’s payout ratio is currently 69.48%.

Hedge Funds Weigh In On ExxonMobil

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after purchasing an additional 1,457,560 shares during the last quarter. Norges Bank bought a new stake in ExxonMobil in the fourth quarter valued at about $7,625,063,000. Bank of New York Mellon Corp increased its holdings in ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after buying an additional 531,362 shares during the last quarter. Northern Trust Corp raised its stake in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after buying an additional 445,283 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in ExxonMobil by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after buying an additional 2,660,910 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

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.