Skip to main content

Stock Update (NYSE:XOM): A day after credit downgrade by S&P, Exxon hikes dividend

[AP] – A day after losing its cherished AAA credit rating partly due to billions paid to shareholders, Exxon Mobil is raising its dividend again. The company said Wednesday that it would pay a quarterly dividend … Read more on this. Exxon Mobil Corporation (XOM) , valued at $367.25B, started the session at $87.95. Looking at today’s trading action, the company’s one day range from $87.33 to $88.71 with a one year range of $66.55 to $90.09. Priced at 37.13x this year’s forecasted earnings, XOM shares are relatively expensive compared to the industry’s -4.01x forward p/e ratio. The company pays shareholders $2.92 per share annually in dividends, yielding 3.34%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $0.31 per share, which would be $0.86 worse than the year-ago quarter and a $0.16 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.36 is a $1.49 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $45.42 Billion. If reported, that would be a 32.83% decrease over the year-ago quarter. More recently, Nomura Initiated XOM at Reduce (Mar 18, 2016). Previously, Tudor Pickering downgraded XOM from Hold to Sell. Given all the information above, we should disclose to readers that the average price target is $82.11, which is 6.64% below than it opened this morning. See more in (NYSE:XOM) Similar Articles: Company Update (NYSE:XOM): S&P cuts Exxon’s credit rating to “AA+” from “AAA” Market Update: Exxon Mobil Corporation (NYSE:XOM) – Exxon Mobil Corporation Declares First Quarter Dividend Exxon Mobil Stock Outlook 2016: 1 Dividend Stock to Own Forever?
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.