Exxon Mobil Co. (NYSE:XOM - Free Report) - Equities research analysts at Zacks Research raised their Q3 2023 earnings estimates for shares of Exxon Mobil in a report released on Tuesday, August 29th. Zacks Research analyst N. Banerjee now forecasts that the oil and gas company will post earnings of $2.08 per share for the quarter, up from their previous forecast of $1.95. The consensus estimate for Exxon Mobil's current full-year earnings is $8.89 per share. Zacks Research also issued estimates for Exxon Mobil's Q4 2023 earnings at $2.13 EPS, FY2023 earnings at $8.99 EPS, Q2 2024 earnings at $2.25 EPS, FY2024 earnings at $9.43 EPS and Q1 2025 earnings at $2.13 EPS.
A number of other equities research analysts have also recently issued reports on XOM. HSBC upped their target price on shares of Exxon Mobil from $110.00 to $116.00 in a report on Wednesday, August 9th. StockNews.com began coverage on shares of Exxon Mobil in a report on Thursday, August 17th. They issued a "hold" rating on the stock. UBS Group upped their target price on shares of Exxon Mobil from $135.00 to $139.00 and gave the company a "buy" rating in a report on Thursday, August 17th. Mizuho upped their price target on shares of Exxon Mobil from $130.00 to $131.00 and gave the company a "buy" rating in a research note on Wednesday, August 16th. Finally, Wolfe Research lowered shares of Exxon Mobil from an "outperform" rating to a "peer perform" rating in a research note on Friday, July 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Exxon Mobil has an average rating of "Hold" and an average target price of $124.27.
Exxon Mobil Stock Up 1.0 %
Shares of XOM stock opened at $110.90 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48. The firm's 50-day moving average is $106.30 and its 200-day moving average is $108.31. The stock has a market cap of $443.95 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.57 and a beta of 1.09. Exxon Mobil has a 52-week low of $83.89 and a 52-week high of $119.92.
Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.06). The business had revenue of $82.91 billion for the quarter, compared to the consensus estimate of $81.80 billion. Exxon Mobil had a return on equity of 25.82% and a net margin of 13.72%. The company's quarterly revenue was down 28.3% compared to the same quarter last year. During the same period last year, the firm earned $4.14 earnings per share.
Exxon Mobil Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Wednesday, August 16th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 29.12%.
Insider Transactions at Exxon Mobil
In related news, Director Jeffrey W. Ubben acquired 458,000 shares of the company's stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $106.93 per share, with a total value of $48,973,940.00. Following the purchase, the director now directly owns 1,635,000 shares in the company, valued at $174,830,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Exxon Mobil
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Exxon Mobil by 100,169.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,032,339,935 shares of the oil and gas company's stock valued at $110,718,458,000 after purchasing an additional 1,031,310,373 shares during the last quarter. FMR LLC raised its stake in shares of Exxon Mobil by 1.9% during the first quarter. FMR LLC now owns 144,949,334 shares of the oil and gas company's stock valued at $15,895,144,000 after acquiring an additional 2,680,850 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Exxon Mobil by 140,855.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company's stock valued at $13,604,575,000 after acquiring an additional 123,254,064 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Exxon Mobil by 0.3% during the second quarter. Geode Capital Management LLC now owns 74,126,090 shares of the oil and gas company's stock valued at $7,930,414,000 after acquiring an additional 254,968 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Exxon Mobil by 11.9% during the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company's stock valued at $5,788,398,000 after acquiring an additional 5,566,797 shares during the last quarter. Institutional investors own 58.53% of the company's stock.
Exxon Mobil Company Profile
(Get Free Report)Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.
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