Exxon Mobil Corporation (NYSE:XOM) Lifted to Hold at Zacks Investment Research
Exxon Mobil Corporation (NYSE:XOM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “ExxonMobil has a leading position in the energy industry owing to the size and diversity of its asset base, both in terms of business mix and geographical footprint. With a stable cash position, the company’s balance sheet is one of the best in the industry. The company has been investing heavily in its extensive refining businesses, which will likely help it counter expensive offshore drilling operations. In fact, the upside in year-over-year earnings in the second quarter was supported by increased refining margins and refining volumes. However, the company’s second-quarter earnings missed the Zacks Consensus Estimate. Also, tensions between the U.S. and Russia could mar the integrated major’s prospects for exploiting huge Russian oil and gas reserves. On top of that, the one-year pricing chart shows a 9.5% drop in Exxon’s stock price, which compares unfavorably with smaller rival Chevron’s 8.8% increase.”
Several other brokerages have also recently issued reports on XOM. Vetr upgraded shares of Exxon Mobil Corporation from a “buy” rating to a “strong-buy” rating and set a $89.25 target price for the company in a report on Monday, June 5th. HSBC Holdings plc restated a “neutral” rating and issued a $85.00 target price on shares of Exxon Mobil Corporation in a report on Thursday, April 13th. Societe Generale set a $95.00 target price on shares of Exxon Mobil Corporation and gave the company a “buy” rating in a report on Friday, July 14th. Morgan Stanley set a $81.00 target price on shares of Exxon Mobil Corporation and gave the company a “sell” rating in a report on Tuesday, July 11th. Finally, UBS AG set a $77.00 target price on shares of Exxon Mobil Corporation and gave the company a “sell” rating in a report on Tuesday, April 25th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $85.39.
Exxon Mobil Corporation (XOM) opened at 79.95 on Monday. The stock has a market cap of $338.75 billion, a PE ratio of 28.87 and a beta of 0.81. Exxon Mobil Corporation has a 12-month low of $78.27 and a 12-month high of $93.21. The firm has a 50 day moving average of $81.06 and a 200-day moving average of $82.01.
Exxon Mobil Corporation (NYSE:XOM) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by $0.05. Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The company had revenue of $62.88 billion during the quarter, compared to analyst estimates of $61.35 billion. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts expect that Exxon Mobil Corporation will post $3.43 earnings per share for the current year.
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Large investors have recently modified their holdings of the stock. Cordasco Financial Network boosted its stake in shares of Exxon Mobil Corporation by 0.6% in the first quarter. Cordasco Financial Network now owns 2,332 shares of the oil and gas company’s stock worth $191,000 after buying an additional 15 shares during the last quarter. Horizon Investment Services LLC boosted its stake in shares of Exxon Mobil Corporation by 0.4% in the first quarter. Horizon Investment Services LLC now owns 4,787 shares of the oil and gas company’s stock worth $393,000 after buying an additional 20 shares during the last quarter. LifePlan Financial Group Inc boosted its stake in shares of Exxon Mobil Corporation by 0.5% in the first quarter. LifePlan Financial Group Inc now owns 4,514 shares of the oil and gas company’s stock worth $370,000 after buying an additional 24 shares during the last quarter. Jag Capital Management LLC boosted its stake in shares of Exxon Mobil Corporation by 0.5% in the second quarter. Jag Capital Management LLC now owns 5,635 shares of the oil and gas company’s stock worth $455,000 after buying an additional 26 shares during the last quarter. Finally, Nadler Financial Group Inc. boosted its stake in shares of Exxon Mobil Corporation by 0.3% in the first quarter. Nadler Financial Group Inc. now owns 15,864 shares of the oil and gas company’s stock worth $1,301,000 after buying an additional 40 shares during the last quarter. 50.59% of the stock is currently owned by hedge funds and other institutional investors.
Exxon Mobil Corporation Company Profile
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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