Q2 2023 EPS Estimates for Exxon Mobil Co. (NYSE:XOM) Lowered by Zacks Research

Posted by Defense World Staff on Apr 6th, 2023

Exxon Mobil Co. (NYSE:XOM – Get Rating) – Equities research analysts at Zacks Research cut their Q2 2023 earnings estimates for shares of Exxon Mobil in a note issued to investors on Monday, April 3rd. Zacks Research analyst N. Banerjee now expects that the oil and gas company will post earnings of $2.15 per share for the quarter, down from their previous forecast of $2.28. The consensus estimate for Exxon Mobil’s current full-year earnings is $9.84 per share. Zacks Research also issued estimates for Exxon Mobil’s Q2 2024 earnings at $1.98 EPS, Q4 2024 earnings at $1.97 EPS and FY2024 earnings at $8.92 EPS.

Several other research firms have also weighed in on XOM. Redburn Partners lowered shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. Mizuho lifted their price target on shares of Exxon Mobil from $140.00 to $147.00 in a research note on Friday, March 10th. Piper Sandler cut their price target on shares of Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. Bank of America lifted their price target on shares of Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Finally, Cowen lifted their price target on shares of Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $121.64.

Exxon Mobil Stock Up 1.7 %

Exxon Mobil stock opened at $116.99 on Wednesday. The company’s 50 day simple moving average is $110.80 and its 200 day simple moving average is $107.70. Exxon Mobil has a fifty-two week low of $79.29 and a fifty-two week high of $119.63. The firm has a market capitalization of $476.27 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.06.

Exxon Mobil (NYSE:XOM – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.08. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $90.21 billion. During the same quarter last year, the firm earned $2.05 EPS. Exxon Mobil’s quarterly revenue was up 12.3% compared to the same quarter last year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a yield of 3.11%. Exxon Mobil’s payout ratio is 27.45%.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $115.50, for a total value of $288,750.00. Following the transaction, the vice president now directly owns 31,772 shares in the company, valued at $3,669,666. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Exxon Mobil

Several institutional investors and hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its stake in shares of Exxon Mobil by 140,855.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock valued at $13,604,575,000 after acquiring an additional 123,254,064 shares in the last quarter. Morgan Stanley grew its stake in shares of Exxon Mobil by 11.9% in the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock valued at $5,788,398,000 after acquiring an additional 5,566,797 shares in the last quarter. Norges Bank acquired a new position in shares of Exxon Mobil in the fourth quarter valued at about $5,226,390,000. Price T Rowe Associates Inc. MD grew its stake in shares of Exxon Mobil by 3.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,011,875 shares of the oil and gas company’s stock valued at $4,523,610,000 after acquiring an additional 1,344,934 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Exxon Mobil by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after acquiring an additional 560,517 shares in the last quarter. 57.49% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Company Profile

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Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.