Brokerages Set Exxon Mobil Corporation (NYSE:XOM) PT at $128.67

Exxon Mobil Corporation (NYSE:XOM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $128.6667.

A number of equities analysts have recently commented on the company. Bank of America raised their price objective on Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Mizuho cut their price target on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Piper Sandler lifted their price target on shares of Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Barclays dropped their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Finally, Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, August 4th.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds have recently modified their holdings of XOM. Norges Bank purchased a new position in shares of Exxon Mobil in the second quarter valued at $6,163,719,000. Nuveen LLC acquired a new position in Exxon Mobil in the 1st quarter worth $2,730,414,000. GQG Partners LLC boosted its position in Exxon Mobil by 15,135.7% in the 1st quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company’s stock valued at $1,197,753,000 after buying an additional 10,004,975 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Exxon Mobil during the second quarter valued at about $607,621,000. Finally, First Trust Advisors LP increased its position in shares of Exxon Mobil by 150.2% during the second quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock worth $819,560,000 after acquiring an additional 4,563,707 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 0.5%

Shares of XOM opened at $116.54 on Friday. Exxon Mobil has a fifty-two week low of $97.80 and a fifty-two week high of $120.81. The company’s fifty day moving average is $114.93 and its two-hundred day moving average is $111.44. The firm has a market cap of $491.46 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business had revenue of $57.55 billion during the quarter. Analysts forecast that Exxon Mobil will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a dividend of $1.03 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, November 14th. Exxon Mobil’s payout ratio is presently 59.88%.

About Exxon Mobil

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.