Exxon Mobil Corp.’s (XOM) “Buy” Rating Reiterated at Wells Fargo & Co.
Exxon Mobil Corp. (NYSE:XOM)‘s stock had its “buy” rating restated by equities researchers at Wells Fargo & Co. in a note issued to investors on Tuesday.
Several other analysts have also issued reports on XOM. Jefferies Group restated a “hold” rating on shares of Exxon Mobil Corp. in a research report on Sunday, July 10th. Vetr upgraded shares of Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $93.34 price target for the company in a research report on Tuesday, May 31st. Credit Suisse Group AG restated a “sell” rating and set a $78.00 price target on shares of Exxon Mobil Corp. in a research report on Thursday, June 2nd. Bank of America Corp. lowered shares of Exxon Mobil Corp. from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a research report on Thursday, June 2nd. They noted that the move was a valuation call. Finally, HSBC set a $88.50 price objective on shares of Exxon Mobil Corp. and gave the company a “neutral” rating in a research note on Wednesday, July 13th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $86.69.
Exxon Mobil Corp. (NYSE:XOM) traded up 0.73% during trading on Tuesday, reaching $83.14. The company’s stock had a trading volume of 10,011,546 shares. Exxon Mobil Corp. has a one year low of $71.55 and a one year high of $95.55. The firm has a market cap of $344.75 billion, a PE ratio of 33.02 and a beta of 0.78. The company has a 50-day moving average of $87.11 and a 200 day moving average of $88.13.
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Exxon Mobil Corp. (NYSE:XOM) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.23. Exxon Mobil Corp. had a net margin of 4.51% and a return on equity of 5.94%. The business had revenue of $57.69 billion for the quarter, compared to analysts’ expectations of $60.23 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The business’s quarterly revenue was down 22.2% on a year-over-year basis. Analysts expect that Exxon Mobil Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were given a $0.75 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $3.00 annualized dividend and a yield of 3.63%. Exxon Mobil Corp.’s payout ratio is presently 119.05%.
In other Exxon Mobil Corp. news, VP Robert Stuart Franklin sold 13,855 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $87.93, for a total value of $1,218,270.15. Following the transaction, the vice president now directly owns 213,256 shares in the company, valued at $18,751,600.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. Vanguard Group Inc. increased its stake in shares of Exxon Mobil Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 274,326,721 shares of the company’s stock valued at $25,715,387,000 after buying an additional 6,897,006 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Exxon Mobil Corp. during the second quarter valued at approximately $441,823,000. Capital World Investors increased its stake in shares of Exxon Mobil Corp. by 41.7% in the second quarter. Capital World Investors now owns 15,221,000 shares of the company’s stock valued at $1,426,817,000 after buying an additional 4,480,000 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Exxon Mobil Corp. by 4,948.6% in the second quarter. Acadian Asset Management LLC now owns 3,736,088 shares of the company’s stock valued at $350,220,000 after buying an additional 3,662,086 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Exxon Mobil Corp. by 23.2% in the second quarter. Alliancebernstein L.P. now owns 17,123,892 shares of the company’s stock valued at $1,605,194,000 after buying an additional 3,229,704 shares during the last quarter. Institutional investors and hedge funds own 50.42% of the company’s stock.
Exxon Mobil Corp. Company Profile
Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas, manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products. The Company also manufactures and markets petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and various specialty products.
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