Exxon Mobil (NYSE:XOM) Stock Price Down 4% on Disappointing Earnings

Exxon Mobil Co. (NYSE:XOM)’s share price fell 4% on Friday following a dissappointing earnings announcement. The company traded as low as $116.22 and last traded at $116.51. 10,320,041 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 17,992,779 shares. The stock had previously closed at $121.33.

The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The firm had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.83 earnings per share.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were given a $0.95 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $3.80 annualized dividend and a yield of 3.22%. Exxon Mobil’s dividend payout ratio is currently 42.74%.

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research reports. UBS Group boosted their price objective on shares of Exxon Mobil from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Mizuho reaffirmed a “neutral” rating and issued a $125.00 target price on shares of Exxon Mobil in a research report on Thursday, April 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $120.00 price target on shares of Exxon Mobil in a research note on Monday, February 5th. Barclays initiated coverage on Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 price objective on the stock. Finally, Scotiabank raised their target price on shares of Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.28.

Insider Activity

In other news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the transaction, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Exxon Mobil

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Pacific Financial bought a new position in shares of Exxon Mobil during the first quarter worth about $34,000. Partnership Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth $46,000. Vima LLC bought a new position in Exxon Mobil during the fourth quarter worth $50,000. Redmont Wealth Advisors LLC acquired a new position in Exxon Mobil in the first quarter valued at $88,000. Finally, Orion Capital Management LLC bought a new stake in Exxon Mobil during the third quarter valued at $91,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

The stock has a market capitalization of $466.92 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 4.16 and a beta of 0.96. 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 stock has a fifty day simple moving average of $113.33 and a two-hundred day simple moving average of $106.67.

Exxon Mobil Company Profile

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.