ExxonMobil (NYSE:XOM) Cut to “Sell” at DZ Bank

DZ Bank lowered shares of ExxonMobil (NYSE:XOM) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $170.00 price objective on the oil and gas company’s stock.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley raised their price target on shares of ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. UBS Group boosted their target price on shares of ExxonMobil from $199.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Wells Fargo & Company increased their price objective on shares of ExxonMobil from $182.00 to $189.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. TD Cowen lifted their price target on ExxonMobil from $168.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $170.38.

ExxonMobil Trading Up 0.3%

NYSE XOM opened at $165.81 on Wednesday. The stock has a market cap of $687.28 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.90 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. ExxonMobil has a twelve month low of $114.19 and a twelve month high of $188.50. The firm’s 50 day moving average price is $168.83 and its two-hundred day moving average price is $155.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The company had revenue of $110.50 billion during the quarter, compared to analysts’ expectations of $104.89 billion. During the same quarter in the prior year, the company posted $1.88 EPS. Equities analysts anticipate that ExxonMobil will post 13.34 EPS for the current year.

ExxonMobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, November 16th. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. ExxonMobil’s dividend payout ratio is presently 42.34%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XOM. NBT Bank N.A. purchased a new position in shares of ExxonMobil in the third quarter valued at approximately $26,000. Aventus Investment Advisors Inc. acquired a new stake in shares of ExxonMobil during the 2nd quarter worth approximately $27,000. Atlantic Private Wealth LLC increased its holdings in shares of ExxonMobil by 776.9% in the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 202 shares in the last quarter. Pioneer Family Office LLC purchased a new position in ExxonMobil in the third quarter valued at about $42,000. Finally, Financial Connections Group Inc. acquired a new position in shares of ExxonMobil during the first quarter worth approximately $53,000. 61.80% of the stock is owned by institutional investors and hedge funds.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

ExxonMobil Company Profile

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.

The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

ExxonMobil serves customers and operates in markets around the world.