Exxon Mobil Given Neutral Rating at Zacks (XOM)
Exxon Mobil (NYSE:XOM)‘s stock had its “neutral” rating restated by Zacks in a research report issued on Tuesday. They currently have a $104.00 price target on the stock. Zacks‘s price objective suggests a potential upside of 5.32% from the stock’s current price.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on ExxonMobil following its second-quarter 2014 release. The world’s largest publicly traded energy company reported better-than-expected earnings on the back of higher natural gas prices. However, ExxonMobil’s performance was muted due to decreased revenues and lower refining margins. Additionally, due to its integrated functions, Exxon is susceptible to downside risk from any weakness in the global economy. However, we believe that 2014 will look better, with the commencement of Kearl in Canada, the purchase of Bakken acreage from Denbury and the acquisition of Celtic Exploration. Moreover, Exxon is one of the best run integrated oil companies in the world, given its track record of high return on the deployed capital. Therefore, we believe that ExxonMobil is a core holding for investors seeking a defensive name with continued dividend growth. “
Shares of Exxon Mobil (NYSE:XOM) traded up 1.11% on Tuesday, hitting $99.85. 4,225,263 shares of the company’s stock traded hands. Exxon Mobil has a 52-week low of $84.79 and a 52-week high of $104.76. The stock has a 50-day moving average of $101.0 and a 200-day moving average of $99.27. The company has a market cap of $425.8 billion and a price-to-earnings ratio of 12.59.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.86 by $0.19. The company had revenue of $111.65 billion for the quarter, compared to the consensus estimate of $108.38 billion. During the same quarter last year, the company posted $1.55 earnings per share. Exxon Mobil’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that Exxon Mobil will post $7.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Wednesday, August 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 2.79%. The ex-dividend date of this dividend is Monday, August 11th.
XOM has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Exxon Mobil in a research note on Thursday, August 14th. They now have a $95.00 price target on the stock, up previously from $90.00. Separately, analysts at Argus reiterated a “buy” rating on shares of Exxon Mobil in a research note on Thursday, August 14th. They now have a $99.09 price target on the stock, down previously from $114.00. Finally, analysts at Simmons downgraded shares of Exxon Mobil from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 13th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Exxon Mobil currently has a consensus rating of “Hold” and an average price target of $101.72.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products.
To view Zacks’ full report, visit Zacks’ official website.
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