Fintel reports that on October 2, 2023, Morgan Stanley maintained coverage of Exxon Mobil (NYSE:XOM) with a Overweight recommendation.
Analyst Price Forecast Suggests 8.01% Upside
As of August 31, 2023, the average one-year price target for Exxon Mobil is 124.90. The forecasts range from a low of 101.00 to a high of $153.30. The average price target represents an increase of 8.01% from its latest reported closing price of 115.64.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Exxon Mobil is 411,239MM, an increase of 11.76%. The projected annual non-GAAP EPS is 11.46.
Exxon Mobil Declares $0.91 Dividend
On July 28, 2023 the company declared a regular quarterly dividend of $0.91 per share ($3.64 annualized). Shareholders of record as of August 16, 2023 received the payment on September 11, 2023. Previously, the company paid $0.91 per share.
At the current share price of $115.64 / share, the stock's dividend yield is 3.15%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.31%, the lowest has been 3.08%, and the highest has been 11.07%. The standard deviation of yields is 1.87 (n=237).
The current dividend yield is 1.15 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.05%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 4798 funds or institutions reporting positions in Exxon Mobil. This is a decrease of 75 owner(s) or 1.54% in the last quarter. Average portfolio weight of all funds dedicated to XOM is 1.00%, a decrease of 8.76%. Total shares owned by institutions decreased in the last three months by 1.51% to 2,603,654K shares. 
The put/call ratio of XOM is 0.92, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 126,067K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 126,021K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in XOM by 9.73% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 96,264K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 96,090K shares, representing an increase of 0.18%. The firm decreased its portfolio allocation in XOM by 11.26% over the last quarter.
Geode Capital Management holds 74,126K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 73,871K shares, representing an increase of 0.34%. The firm decreased its portfolio allocation in XOM by 11.24% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 71,174K shares representing 1.79% ownership of the company. In it's prior filing, the firm reported owning 79,922K shares, representing a decrease of 12.29%. The firm decreased its portfolio allocation in XOM by 1.18% over the last quarter.
Bank Of America holds 56,721K shares representing 1.42% ownership of the company. In it's prior filing, the firm reported owning 53,875K shares, representing an increase of 5.02%. The firm increased its portfolio allocation in XOM by 5.08% over the last quarter.
Exxon Mobil Background Information
(This description is provided by the company.)
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world.
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This story originally appeared on Fintel.
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