ExxonMobil (NYSE:XOM) Price Target Lowered to $170.00 at Mizuho

ExxonMobil (NYSE:XOM) had its price objective lowered by Mizuho from $175.00 to $170.00 in a research note published on Thursday morning, MarketBeat Ratings reports. Mizuho currently has a neutral rating on the oil and gas company’s stock.

Other equities analysts have also recently issued reports about the stock. UBS Group lifted their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a report on Wednesday. TD Cowen dropped their price target on ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Finally, Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.45.

ExxonMobil Stock Performance

XOM opened at $137.31 on Thursday. ExxonMobil has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a fifty day moving average of $146.53 and a 200 day moving average of $145.43. The stock has a market capitalization of $569.12 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that ExxonMobil will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. Berbice Capital Management LLC bought a new position in ExxonMobil in the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil in the 4th quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 187 shares during the period. Key Capital Management INC purchased a new position in shares of ExxonMobil in the 4th quarter valued at $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of ExxonMobil in the 4th quarter worth $32,000. 61.80% of the stock is currently owned by institutional investors.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM’s Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.