ExxonMobil (NYSE:XOM) Stock Price Down 2.5% – Should You Sell?

ExxonMobil Corporation (NYSE:XOM)’s share price dropped 2.5% during trading on Tuesday. The stock traded as low as $179.77 and last traded at $179.8710. 14,005,113 shares changed hands during trading, a decline of 21% from the average daily volume of 17,741,350 shares. The stock had previously closed at $184.54.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and its partners won dismissal of Kazakhstan’s approximately $12 billion arbitration claim related to the Kashagan oil project. The ruling removes the immediate risk of a potentially significant financial award and eliminates a major legal overhang. ExxonMobil Wins Dismissal of Kazakhstan’s $12 Billion Kashagan Claim
• Positive Sentiment: Analysts expect higher oil prices and stronger refining margins to support third-quarter growth. Reports highlight a potential refining benefit of about $4.5 billion, which could help offset weaker results from lower crude prices. Can Exxon’s $4.5 Billion Refining Windfall Defy Dropping Crude Prices?
• Positive Sentiment: Exchange-traded funds reportedly added approximately $1.41 billion of ExxonMobil stock on October 22, while 28 ETFs increased their holdings. The buying suggests continued institutional demand for the energy major. ETFs Bought $1.41 Billion of ExxonMobil
• Neutral Sentiment: ExxonMobil is scheduled to report third-quarter results before the market opens on October 30. Investors will focus on refining profits, production, management guidance, and whether the company’s fundamentals justify its premium valuation. ExxonMobil’s Q3 Earnings on Deck
• Negative Sentiment: Brent crude recently declined as Persian Gulf exports recovered and hopes increased that tensions involving Iran could ease. Lower oil prices can pressure ExxonMobil’s upstream earnings, while the stock’s elevated valuation leaves less room for an earnings disappointment. Gulf Oil Is Roaring Back as Exxon Heads Into Earnings

Analysts Set New Price Targets

Several analysts recently issued reports on XOM shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $178.00 price objective on shares of ExxonMobil in a report on Tuesday, October 20th. Morgan Stanley boosted their target price on ExxonMobil from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. TD Cowen upped their target price on ExxonMobil from $168.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. 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. 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 report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.70.

ExxonMobil Stock Performance

The stock has a fifty day moving average price of $165.81 and a 200 day moving average price of $152.82. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The firm has a market cap of $745.56 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 0.92 and a beta of 0.21.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%. The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the previous year, the company earned $1.64 EPS. As a group, analysts predict that ExxonMobil Corporation will post 13.63 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 17th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.

Hedge Funds Weigh In On ExxonMobil

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock worth $4,812,790,000 after purchasing an additional 1,540,902 shares during the last quarter. Amundi grew its position in ExxonMobil by 5.1% during the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock worth $4,158,563,000 after buying an additional 1,192,386 shares in the last quarter. GQG Partners LLC raised its holdings in ExxonMobil by 153.3% in the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after acquiring an additional 10,214,420 shares in the last quarter. Swiss National Bank raised its holdings in ExxonMobil by 5.9% in the 1st quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock valued at $2,099,783,000 after acquiring an additional 693,800 shares in the last quarter. Finally, National Pension Service lifted its position in shares of ExxonMobil by 1.8% in the 2nd quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock worth $1,321,265,000 after acquiring an additional 166,268 shares during the period. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Company Profile

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.