Exxon Mobil Corporation (XOM) Upgraded to Neutral at UBS AG
Exxon Mobil Corporation (NYSE:XOM) was upgraded by UBS AG from a “sell” rating to a “neutral” rating in a research note issued on Wednesday, 247wallst.com reports. The brokerage presently has a $76.00 price target on the oil and gas company’s stock, up from their previous price target of $75.00. UBS AG’s price objective points to a potential downside of 3.58% from the company’s previous close.
Other analysts also recently issued reports about the company. Royal Bank Of Canada restated a “buy” rating and set a $96.00 target price on shares of Exxon Mobil Corporation in a research note on Thursday, June 15th. Vetr downgraded Exxon Mobil Corporation from a “strong-buy” rating to a “buy” rating and set a $89.71 target price for the company. in a research note on Tuesday, June 6th. Scotiabank upgraded Exxon Mobil Corporation from a “sector perform” rating to a “buy” rating and raised their target price for the company from $85.00 to $86.00 in a research note on Monday, June 5th. Bank of America Corporation upgraded Exxon Mobil Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $100.00 in a research note on Thursday, May 11th. Finally, Societe Generale set a $95.00 target price on Exxon Mobil Corporation and gave the company a “buy” rating in a research note on Friday, July 14th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $84.41.
Exxon Mobil Corporation (XOM) traded down 0.27% on Wednesday, hitting $78.82. The stock had a trading volume of 8,436,033 shares. The company’s 50-day moving average is $78.44 and its 200-day moving average is $80.89. Exxon Mobil Corporation has a one year low of $76.05 and a one year high of $93.21. The stock has a market cap of $333.97 billion, a P/E ratio of 28.41 and a beta of 0.82.
Exxon Mobil Corporation (NYSE:XOM) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by $0.05. The business had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, analysts anticipate that Exxon Mobil Corporation will post $3.43 earnings per share for the current fiscal year.
In related news, Director Steven Reinemund sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the sale, the director now owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.08% of the company’s stock.
A number of large investors have recently made changes to their positions in XOM. Willis Investment Counsel grew its position in Exxon Mobil Corporation by 6.1% in the fourth quarter. Willis Investment Counsel now owns 293,370 shares of the oil and gas company’s stock worth $26,480,000 after buying an additional 16,915 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new position in Exxon Mobil Corporation in the fourth quarter worth approximately $101,000. AE Wealth Management LLC acquired a new position in Exxon Mobil Corporation in the fourth quarter worth approximately $2,424,000. Hartree Partners LP acquired a new position in Exxon Mobil Corporation in the fourth quarter worth approximately $237,000. Finally, Sowell Financial Services LLC acquired a new position in Exxon Mobil Corporation in the fourth quarter worth approximately $4,128,000. 50.82% of the stock is currently owned by hedge funds and other institutional investors.
About Exxon Mobil Corporation
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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