Brokerages Expect Exxon Mobil Corporation (XOM) Will Announce Quarterly Sales of $63.97 Billion
Brokerages predict that Exxon Mobil Corporation (NYSE:XOM) will post $63.97 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Exxon Mobil Corporation’s earnings. The lowest sales estimate is $60.43 billion and the highest is $65.67 billion. Exxon Mobil Corporation posted sales of $58.68 billion in the same quarter last year, which suggests a positive year over year growth rate of 9%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Friday, October 27th.
On average, analysts expect that Exxon Mobil Corporation will report full-year sales of $63.97 billion for the current year, with estimates ranging from $252.56 billion to $349.01 billion. For the next year, analysts anticipate that the company will report sales of $298.68 billion per share, with estimates ranging from $268.27 billion to $365.73 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Exxon Mobil Corporation.
Exxon Mobil Corporation (NYSE:XOM) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $61.35 billion. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue was up 9.0% on a year-over-year basis.
Several brokerages have recently commented on XOM. Vetr lowered shares of Exxon Mobil Corporation from a “buy” rating to a “hold” rating and set a $85.17 price objective on the stock. in a report on Friday, October 6th. Royal Bank Of Canada set a $90.00 price objective on shares of Exxon Mobil Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. Societe Generale set a $95.00 price objective on shares of Exxon Mobil Corporation and gave the stock a “buy” rating in a report on Monday, September 18th. J P Morgan Chase & Co restated a “neutral” rating and issued a $80.00 price objective (down from $81.00) on shares of Exxon Mobil Corporation in a report on Friday, August 18th. Finally, Independent Research GmbH set a $84.00 price objective on shares of Exxon Mobil Corporation and gave the stock a “neutral” rating in a report on Monday, August 21st. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Exxon Mobil Corporation has an average rating of “Hold” and an average target price of $85.32.
Shares of Exxon Mobil Corporation (NYSE XOM) opened at 83.11 on Monday. Exxon Mobil Corporation has a 1-year low of $76.05 and a 1-year high of $93.21. The company has a market cap of $352.15 billion, a P/E ratio of 29.96 and a beta of 0.82. The stock’s 50 day moving average is $80.92 and its 200 day moving average is $80.79.
In other Exxon Mobil Corporation news, Director Steven Reinemund sold 1,100 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $80.23, for a total transaction of $88,253.00. Following the transaction, the director now directly owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Stuart Franklin sold 22,656 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $79.76, for a total transaction of $1,807,042.56. Following the transaction, the vice president now directly owns 231,572 shares in the company, valued at $18,470,182.72. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
Institutional investors have recently modified their holdings of the business. CNA Financial Corp grew its position in Exxon Mobil Corporation by 23.1% during the 1st quarter. CNA Financial Corp now owns 19,875 shares of the oil and gas company’s stock worth $1,630,000 after purchasing an additional 3,725 shares during the last quarter. Two Sigma Securities LLC purchased a new position in Exxon Mobil Corporation during the 1st quarter worth $754,000. Doyle Wealth Management grew its position in Exxon Mobil Corporation by 2.7% during the 2nd quarter. Doyle Wealth Management now owns 259,322 shares of the oil and gas company’s stock worth $20,935,000 after purchasing an additional 6,921 shares during the last quarter. Holderness Investments Co. grew its position in Exxon Mobil Corporation by 48.1% during the 1st quarter. Holderness Investments Co. now owns 48,307 shares of the oil and gas company’s stock worth $3,962,000 after purchasing an additional 15,687 shares during the last quarter. Finally, Shell Asset Management Co. grew its position in Exxon Mobil Corporation by 1.6% during the 2nd quarter. Shell Asset Management Co. now owns 808,400 shares of the oil and gas company’s stock worth $65,262,000 after purchasing an additional 12,362 shares during the last quarter. 50.73% of the stock is currently owned by 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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