Brokers Offer Predictions for Exxon Mobil Co.’s Q2 2024 Earnings (NYSE:XOM)
Exxon Mobil Co. (NYSE:XOM – Free Report) – Analysts at Zacks Research upped their Q2 2024 earnings estimates for shares of Exxon Mobil in a research note issued on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings of $2.40 per share for the quarter, up from their previous forecast of $2.36. The consensus estimate for Exxon Mobil’s current full-year earnings is $9.11 per share. Zacks Research also issued estimates for Exxon Mobil’s Q4 2024 earnings at $2.30 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.59 EPS, FY2025 earnings at $9.90 EPS, Q1 2026 earnings at $2.70 EPS and FY2026 earnings at $11.21 EPS.
Exxon Mobil (NYSE:XOM – Get Free Report) last released its earnings results on Friday, February 2nd. The oil and gas company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.28. The company had revenue of $84.34 billion for the quarter, compared to the consensus estimate of $90.03 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. Exxon Mobil’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.40 EPS.
XOM has been the topic of several other research reports. Mizuho boosted their target price on shares of Exxon Mobil from $119.00 to $125.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. UBS Group dropped their target price on shares of Exxon Mobil from $133.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Redburn Atlantic raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $119.00 in a research report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a report on Monday, February 5th. Finally, Piper Sandler dropped their price objective on shares of Exxon Mobil from $142.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.47.
Read Our Latest Stock Analysis on Exxon Mobil
Exxon Mobil Stock Up 0.1 %
NYSE:XOM opened at $119.34 on Wednesday. The company has a market cap of $473.52 billion, a PE ratio of 13.42, a P/E/G ratio of 4.28 and a beta of 0.96. Exxon Mobil has a twelve month low of $95.77 and a twelve month high of $120.70. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $106.94 and its two-hundred day moving average is $105.89.
Hedge Funds Weigh In On Exxon Mobil
A number of large investors have recently added to or reduced their stakes in XOM. Axiom Financial Strategies LLC raised its position in Exxon Mobil by 17.4% during the first quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock worth $680,000 after acquiring an additional 1,173 shares during the period. Retirement Income Solutions Inc acquired a new stake in shares of Exxon Mobil in the first quarter valued at about $275,000. Loomis Sayles & Co. L P raised its position in shares of Exxon Mobil by 318.8% in the first quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock valued at $1,417,000 after buying an additional 13,065 shares during the last quarter. Ergoteles LLC raised its position in shares of Exxon Mobil by 95.6% in the first quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock valued at $1,308,000 after buying an additional 7,744 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in shares of Exxon Mobil in the first quarter valued at about $237,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the sale, the vice president now directly owns 30,189 shares of the company’s stock, valued at $3,169,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by insiders.
Exxon Mobil Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Tuesday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is presently 42.74%.
About Exxon Mobil
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.
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