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FY2023 EPS Estimates for Exxon Mobil Co. (NYSE:XOM) Cut by Analyst

Exxon Mobil Co. (NYSE:XOM – Get Rating) – Equities researchers at Jefferies Financial Group lowered their FY2023 earnings per share estimates for Exxon Mobil in a research report issued on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas company will post earnings of $9.88 per share for the year, down from their prior estimate of $10.87. Jefferies Financial Group has a “Buy” rating and a $133.00 price objective on the stock. The consensus estimate for Exxon Mobil’s current full-year earnings is $13.87 per share. Jefferies Financial Group also issued estimates for Exxon Mobil’s FY2024 earnings at $9.60 EPS.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its earnings results on Friday, October 28th. The oil and gas company reported $4.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.57. The company had revenue of $112.07 billion for the quarter, compared to analysts’ expectations of $102.96 billion. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. Exxon Mobil’s quarterly revenue was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.58 earnings per share.

Other research analysts have also recently issued research reports about the company. Credit Suisse Group lifted their target price on Exxon Mobil to $130.00 in a research report on Tuesday, November 1st. Exane BNP Paribas raised Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 price objective on the stock in a research report on Tuesday, November 1st. Piper Sandler cut their price objective on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. StockNews.com raised Exxon Mobil from a “hold” rating to a “buy” rating in a research report on Monday. Finally, BNP Paribas upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 target price on the stock in a research note on Tuesday, November 1st. One equity research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $114.35.

Exxon Mobil Stock Up 0.6%

Shares of NYSE:XOM opened at $111.32 on Friday. The stock has a market cap of $458.45 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.48 and a beta of 1.11. The company has a quick ratio of 1.02, a current ratio of 1.34 and a debt-to-equity ratio of 0.20. Exxon Mobil has a 12-month low of $69.81 and a 12-month high of $114.66. The business’s 50 day moving average is $109.57 and its 200 day moving average is $100.41.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.27%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is currently 29.71%.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $110.47, for a total transaction of $276,175.00. Following the sale, the vice president now directly owns 25,363 shares in the company, valued at approximately $2,801,850.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Exxon Mobil

Several institutional investors have recently added to or reduced their stakes in the business. Wealthquest Corp increased its holdings in shares of Exxon Mobil by 1.4% in the 3rd quarter. Wealthquest Corp now owns 6,629 shares of the oil and gas company’s stock worth $578,000 after acquiring an additional 89 shares during the period. FourThought Financial LLC boosted its holdings in shares of Exxon Mobil by 0.3% in the third quarter. FourThought Financial LLC now owns 31,022 shares of the oil and gas company’s stock worth $2,709,000 after buying an additional 94 shares during the period. Wilson & Boucher Capital Management LLC increased its position in shares of Exxon Mobil by 1.8% in the third quarter. Wilson & Boucher Capital Management LLC now owns 5,445 shares of the oil and gas company’s stock worth $475,000 after acquiring an additional 95 shares in the last quarter. Bloom Inc. increased its position in shares of Exxon Mobil by 0.8% in the third quarter. Bloom Inc. now owns 12,226 shares of the oil and gas company’s stock worth $1,082,000 after acquiring an additional 97 shares in the last quarter. Finally, OneAscent Wealth Management LLC increased its position in shares of Exxon Mobil by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 6,749 shares of the oil and gas company’s stock worth $589,000 after acquiring an additional 97 shares in the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Company Profile

(Get Rating)

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.

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Earnings History and Estimates for Exxon Mobil (NYSE:XOM)

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