Analysts Expect Exxon Mobil Corporation (XOM) Will Announce Quarterly Sales of $63.20 Billion
Brokerages forecast that Exxon Mobil Corporation (NYSE:XOM) will report $63.20 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Exxon Mobil Corporation’s earnings, with the highest sales estimate coming in at $65.67 billion and the lowest estimate coming in at $59.86 billion. Exxon Mobil Corporation reported sales of $58.68 billion in the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The business is expected to issue its next quarterly earnings report before the market opens on Friday, October 27th.
According to Zacks, analysts expect that Exxon Mobil Corporation will report full-year sales of $63.20 billion for the current year, with estimates ranging from $251.22 billion to $285.81 billion. For the next financial year, analysts anticipate that the firm will post sales of $271.64 billion per share, with estimates ranging from $250.86 billion to $309.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Exxon Mobil Corporation.
Exxon Mobil Corporation (NYSE:XOM) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS.
Several brokerages have recently weighed in on XOM. Scotiabank set a $86.00 price objective on Exxon Mobil Corporation and gave the company a “buy” rating in a report on Saturday, June 17th. BMO Capital Markets upped their price objective on Exxon Mobil Corporation from $76.00 to $80.00 and gave the company a “market perform” rating in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and issued a $96.00 price objective on shares of Exxon Mobil Corporation in a report on Thursday, June 15th. Jefferies Group LLC restated a “neutral” rating and issued a $92.00 price objective on shares of Exxon Mobil Corporation in a report on Tuesday, July 4th. Finally, Vetr lowered Exxon Mobil Corporation from a “strong-buy” rating to a “buy” rating and set a $89.82 price objective for the company. in a report on Tuesday, July 4th. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $84.65.
In other news, Director Steven Reinemund sold 1,100 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the transaction, the director now owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Horan Securities Inc. acquired a new position in shares of Exxon Mobil Corporation during the 1st quarter valued at about $102,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of Exxon Mobil Corporation by 27.2% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 292 shares during the last quarter. CWH Capital Management Inc. acquired a new position in shares of Exxon Mobil Corporation during the 2nd quarter valued at about $114,000. Watermark Asset Management Inc. acquired a new position in shares of Exxon Mobil Corporation during the 1st quarter valued at about $136,000. Finally, Acrospire Investment Management LLC increased its holdings in shares of Exxon Mobil Corporation by 172.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,737 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 1,100 shares during the last quarter. 50.82% of the stock is currently owned by institutional investors and hedge funds.
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Exxon Mobil Corporation (NYSE:XOM) traded down 0.02% on Friday, hitting $80.07. The stock had a trading volume of 16,043,707 shares. The company has a market cap of $339.27 billion, a PE ratio of 28.86 and a beta of 0.82. The stock has a 50-day moving average of $78.36 and a 200-day moving average of $80.83. Exxon Mobil Corporation has a one year low of $76.05 and a one year high of $93.22.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 14th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.85%. The ex-dividend date was Thursday, August 10th. Exxon Mobil Corporation’s payout ratio is currently 111.19%.
Exxon Mobil Corporation Company Profile
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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