Citigroup Inc. Downgrades Exxon Mobil Corp. to Neutral (XOM)
Exxon Mobil Corp. (NYSE:XOM) was downgraded by equities researchers at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $108.00 target price on the stock. Citigroup Inc.’s price target points to a potential upside of 7.21% from the company’s current price.
A number of other analysts have also recently weighed in on XOM. Analysts at TheStreet reiterated a “buy” rating on shares of Exxon Mobil Corp. in a research note to investors on Wednesday, December 18th. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Exxon Mobil Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 16th. They now have a $109.00 price target on the stock, up previously from $96.00. Finally, analysts at RBC Capital initiated coverage on shares of Exxon Mobil Corp. in a research note to investors on Thursday, December 12th. They set an “outperform” rating and a $105.00 price target on the stock. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Exxon Mobil Corp. presently has an average rating of “Hold” and a consensus target price of $98.94.
Exxon Mobil Corp. (NYSE:XOM) traded down 0.97% during mid-day trading on Thursday, hitting $99.76. 11,679,041 shares of the company’s stock traded hands. Exxon Mobil Corp. has a 1-year low of $84.79 and a 1-year high of $101.74. The stock’s 50-day moving average is $97.08 and its 200-day moving average is $91.56. The company has a market cap of $435.8 billion and a price-to-earnings ratio of 13.16.
Exxon Mobil Corp. (NYSE:XOM) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.02. The company had revenue of $112.40 billion for the quarter, compared to the consensus estimate of $107.40 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that Exxon Mobil Corp. will post $7.46 EPS for the current fiscal year.
Exxon Mobil Corporation (NYSE:XOM) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products.
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