Exxon Mobil (XOM) Set to Announce Quarterly Earnings on Friday

Posted by Defense World Staff on Jul 21st, 2023

Exxon Mobil (NYSE:XOM – Get Free Report) will issue its quarterly earnings data before the market opens on Friday, July 28th. Analysts expect the company to announce earnings of $2.25 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Exxon Mobil (NYSE:XOM – Get Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.18. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The business had revenue of $86.56 billion during the quarter, compared to analyst estimates of $90.07 billion. During the same period in the prior year, the company posted $2.07 earnings per share. Exxon Mobil’s revenue was down 4.3% on a year-over-year basis. On average, analysts expect Exxon Mobil to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Exxon Mobil Stock Up 1.8 %

XOM opened at $103.40 on Friday. The firm has a market cap of $418.05 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.46. Exxon Mobil has a twelve month low of $83.89 and a twelve month high of $119.92. The firm’s 50-day simple moving average is $104.97 and its 200-day simple moving average is $109.31.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were given a $0.91 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a yield of 3.52%. Exxon Mobil’s payout ratio is 24.64%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $116.11, for a total transaction of $290,275.00. Following the transaction, the vice president now owns 29,272 shares in the company, valued at $3,398,771.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its position in Exxon Mobil by 140,855.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock worth $13,604,575,000 after purchasing an additional 123,254,064 shares during the last quarter. Norges Bank acquired a new position in shares of Exxon Mobil during the 4th quarter valued at about $5,226,390,000. Morgan Stanley increased its stake in Exxon Mobil by 11.9% during the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock worth $5,788,398,000 after acquiring an additional 5,566,797 shares during the last quarter. CI Private Wealth LLC purchased a new position in Exxon Mobil in the 4th quarter worth approximately $209,464,000. Finally, 1832 Asset Management L.P. increased its holdings in Exxon Mobil by 195.7% during the 4th quarter. 1832 Asset Management L.P. now owns 2,679,591 shares of the oil and gas company’s stock worth $295,559,000 after purchasing an additional 1,773,488 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research reports. HSBC lifted their price target on shares of Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday, April 20th. Scotiabank lowered Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $140.00 to $135.00 in a report on Thursday, April 13th. Morgan Stanley reduced their price target on shares of Exxon Mobil from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com started coverage on Exxon Mobil in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price on shares of Exxon Mobil in a research note on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $124.66.

Exxon Mobil Company Profile

(Get Free Report)

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.