Wells Fargo & Co. Reaffirms “Buy” Rating for Exxon Mobil Corp. (XOM)
Exxon Mobil Corp. (NYSE:XOM)‘s stock had its “buy” rating reaffirmed by equities researchers at Wells Fargo & Co. in a note issued to investors on Tuesday.
Other equities analysts have also issued research reports about the company. Barclays PLC decreased their price target on Exxon Mobil Corp. to $100.00 in a research note on Monday, August 1st. Zacks Investment Research upgraded Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, July 5th. Vetr upgraded Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $93.03 price objective on the stock in a research report on Monday, June 27th. Goldman Sachs Group Inc. set a $98.00 price objective on Exxon Mobil Corp. and gave the stock a “buy” rating in a research report on Friday, June 10th. Finally, Societe Generale set a $105.00 price objective on Exxon Mobil Corp. and gave the stock a “buy” rating in a research report on Monday, August 15th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $86.69.
Shares of Exxon Mobil Corp. (NYSE:XOM) traded up 0.91% during midday trading on Tuesday, hitting $83.29. The company’s stock had a trading volume of 12,282,803 shares. Exxon Mobil Corp. has a 1-year low of $71.55 and a 1-year high of $95.55. The company has a 50-day moving average price of $87.11 and a 200 day moving average price of $88.13. The company has a market cap of $345.37 billion, a P/E ratio of 33.08 and a beta of 0.78.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/wells-fargo-co-reaffirms-buy-rating-for-exxon-mobil-corp-xom.html
Exxon Mobil Corp. (NYSE:XOM) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 earned $57.69 billion during the quarter, compared to the consensus estimate of $60.23 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s revenue for the quarter was down 22.2% on a year-over-year basis. On average, equities research analysts predict that Exxon Mobil Corp. will post $2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, August 10th. Exxon Mobil Corp.’s dividend payout ratio is presently 119.05%.
In other news, VP Robert Stuart Franklin sold 13,855 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $87.93, for a total value of $1,218,270.15. Following the completion of the transaction, the vice president now directly owns 213,256 shares of the company’s stock, valued at $18,751,600.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Thomas J. Herzfeld Advisors Inc. raised its position in shares of Exxon Mobil Corp. by 166.5% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,106 shares of the company’s stock valued at $104,000 after buying an additional 691 shares during the period. Tuttle Tactical Management LLC purchased a new position in shares of Exxon Mobil Corp. during the second quarter valued at $125,000. NewSquare Capital LLC raised its position in shares of Exxon Mobil Corp. by 2.1% in the second quarter. NewSquare Capital LLC now owns 1,603 shares of the company’s stock valued at $150,000 after buying an additional 33 shares during the period. Cantab Capital Partners LLP purchased a new position in shares of Exxon Mobil Corp. during the second quarter valued at $183,000. Finally, NCM Capital Management Group Inc. raised its position in shares of Exxon Mobil Corp. by 29.6% in the second quarter. NCM Capital Management Group Inc. now owns 1,970 shares of the company’s stock valued at $185,000 after buying an additional 450 shares during the period. 50.42% of the stock is owned by institutional investors.
About Exxon Mobil Corp.
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.
Receive News & Ratings for Exxon Mobil Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exxon Mobil Corp. and related companies with MarketBeat.com's FREE daily email newsletter.