Exxon Mobil (NYSE:XOM) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Exxon Mobil (NYSE:XOM) announced its earnings results on Friday. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01, Briefing.com reports. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 earnings per share.

Exxon Mobil Price Performance

NYSE XOM traded down $1.83 on Friday, hitting $114.95. 20,939,321 shares of the company were exchanged, compared to its average volume of 16,433,684. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $453.25 billion, a P/E ratio of 13.75, a P/E/G ratio of 4.83 and a beta of 0.89. The firm has a 50 day moving average of $117.67 and a two-hundred day moving average of $116.36. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be paid a $0.99 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.44%. Exxon Mobil’s payout ratio is currently 45.45%.

Analysts Set New Price Targets

Several research firms have issued reports on XOM. Redburn Atlantic restated a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Morgan Stanley cut their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Exxon Mobil from $127.00 to $128.00 in a research report on Thursday. Truist Financial cut their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.37.

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.