Exxon Mobil Co. (NYSE:XOM) Plans $0.99 Quarterly Dividend

Exxon Mobil Co. (NYSE:XOM) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Wednesday, February 12th will be given a dividend of 0.99 per share by the oil and gas company on Monday, March 10th. This represents a $3.96 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 12th.

Exxon Mobil has raised its dividend by an average of 3.2% per year over the last three years and has increased its dividend every year for the last 24 years. Exxon Mobil has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Exxon Mobil to earn $9.08 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 43.6%.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $109.95 on Wednesday. Exxon Mobil has a 52 week low of $100.42 and a 52 week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market capitalization of $483.22 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 2.79 and a beta of 0.89. The stock has a fifty day moving average of $110.10 and a 200-day moving average of $115.13.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period last year, the company earned $2.48 EPS. On average, sell-side analysts expect that Exxon Mobil will post 7.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. TD Cowen decreased their target price on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group cut their price objective on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. BMO Capital Markets dropped their price target on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research report on Friday, January 31st. Truist Financial upped their price objective on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler dropped their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.25.

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.