Exane BNP Paribas Initiates Coverage on Exxon Mobil Corp. (XOM)
Exane BNP Paribas started coverage on shares of Exxon Mobil Corp. (NYSE:XOM) in a research report issued on Monday. The firm set an “underperform” rating and a $80.00 price target on the stock. Exane BNP Paribas’ price objective would indicate a potential downside of 9.54% from the company’s current price.
XOM has been the subject of a number of other reports. Vetr cut shares of Exxon Mobil Corp. from a “buy” rating to a “hold” rating and set a $89.16 target price for the company. in a report on Wednesday, September 28th. HSBC set a $86.00 target price on shares of Exxon Mobil Corp. and gave the company a “neutral” rating in a report on Tuesday, June 28th. Societe Generale set a $105.00 target price on shares of Exxon Mobil Corp. and gave the company a “buy” rating in a report on Monday, August 15th. Goldman Sachs Group Inc. set a $98.00 target price on shares of Exxon Mobil Corp. and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $102.00 target price on shares of Exxon Mobil Corp. in a report on Thursday, July 28th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $87.39.
Exxon Mobil Corp. (NYSE:XOM) traded up 1.96% during midday trading on Monday, reaching $88.44. The company had a trading volume of 10,059,788 shares. Exxon Mobil Corp. has a 1-year low of $71.55 and a 1-year high of $95.55. The stock has a market capitalization of $366.73 billion, a PE ratio of 35.12 and a beta of 0.83. The firm’s 50 day moving average is $86.27 and its 200 day moving average is $88.28.
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Exxon Mobil Corp. (NYSE:XOM) last announced its earnings results on Friday, July 29th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $60.23 billion. During the same period in the previous year, the company posted $1.00 earnings per share. Exxon Mobil Corp.’s quarterly revenue was down 22.2% on a year-over-year basis. On average, equities analysts anticipate that Exxon Mobil Corp. will post $2.28 EPS for the current fiscal year.
In other 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 sale, the vice president now directly owns 213,256 shares in the company, valued at $18,751,600.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Exxon Mobil Corp. by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 111,095,583 shares of the company’s stock worth $9,286,480,000 after buying an additional 1,455,454 shares during the period. BlackRock Fund Advisors raised its stake in shares of Exxon Mobil Corp. by 4.2% in the second quarter. BlackRock Fund Advisors now owns 62,193,667 shares of the company’s stock worth $5,830,034,000 after buying an additional 2,524,527 shares during the period. BlackRock Group LTD raised its stake in shares of Exxon Mobil Corp. by 0.5% in the second quarter. BlackRock Group LTD now owns 34,810,748 shares of the company’s stock worth $3,263,159,000 after buying an additional 177,918 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Exxon Mobil Corp. by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 21,717,922 shares of the company’s stock worth $2,036,082,000 after buying an additional 869,112 shares during the period. Institutional investors and hedge funds own 50.42% of the company’s stock.
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.
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