Exxon Mobil Coverage Initiated at Deutsche Bank (XOM)
Deutsche Bank started coverage on shares of Exxon Mobil (NYSE:XOM) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
Exxon Mobil (NYSE:XOM) opened at 101.52 on Tuesday. Exxon Mobil has a 52-week low of $84.79 and a 52-week high of $103.45. The stock has a 50-day moving average of $101.3 and a 200-day moving average of $97.37. The company has a market cap of $436.0 billion and a P/E ratio of 13.84. Exxon Mobil also saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 50,272,862 shares, a drop of 5.1% from the April 30th total of 52,969,016 shares. Based on an average daily volume of 9,592,190 shares, the short-interest ratio is presently 5.2 days. Approximately 1.2% of the shares of the company are sold short.
Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.88 by $0.22. The company had revenue of $106.77 billion for the quarter, compared to the consensus estimate of $109.76 million. During the same quarter last year, the company posted $2.12 earnings per share. Exxon Mobil’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Exxon Mobil will post $7.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Tuesday, May 13th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.63.
A number of other firms have also recently commented on XOM. Analysts at Zacks reiterated a “neutral” rating on shares of Exxon Mobil in a research note on Thursday, June 5th. They now have a $105.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Exxon Mobil in a research note on Wednesday, May 21st. They now have a $102.00 price target on the stock, down previously from $108.00. Finally, analysts at Argus raised their price target on shares of Exxon Mobil from $104.00 to $114.00 in a research note on Thursday, May 8th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.62.
Exxon Mobil Corporation 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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