Exxon Mobil (XOM) Upgraded by Zacks Investment Research to “Buy”
Exxon Mobil (NYSE:XOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage currently has a $98.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.97% from the company’s current price.
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, reflecting declining debt load over the first nine months of 2017. We appreciate ExxonMobil’s plans to combine its refining & marketing businesses as this will allow the company to take better decisions and boost performance. ExxonMobil will generate more cashflow from downstream activities, also helping it counter the volatility in its upstream business. ExxonMobil’s decision to invest in the pre-salt Carcara oil field, comprising as much as 2 billion barrels of high-quality recoverable oil reserves, will boost the company’s production. Moreover, the sixth oil discovery off the coast of Guyana further enhances the prospects of the integrated energy player.”
Several other equities research analysts also recently weighed in on XOM. Howard Weil raised shares of Exxon Mobil from an “outperform” rating to a “focus list” rating in a research report on Friday, December 22nd. Vetr raised shares of Exxon Mobil from a “buy” rating to a “strong-buy” rating and set a $92.50 price target for the company in a research report on Thursday, December 7th. Goldman Sachs Group set a $86.00 price target on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Monday, October 30th. UBS Group set a $83.00 price target on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Monday, December 4th. Finally, Royal Bank of Canada reduced their price target on shares of Exxon Mobil from $90.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, November 16th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $86.74.
Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, October 27th. The oil and gas company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. Exxon Mobil had a net margin of 5.14% and a return on equity of 8.21%. The business had revenue of $66.17 billion during the quarter, compared to the consensus estimate of $63.51 billion. During the same quarter last year, the firm earned $0.63 earnings per share. research analysts forecast that Exxon Mobil will post 3.68 earnings per share for the current year.
In other Exxon Mobil news, VP Neil A. Chapman sold 12,000 shares of Exxon Mobil stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $83.05, for a total value of $996,600.00. Following the completion of the sale, the vice president now owns 291,385 shares of the company’s stock, valued at approximately $24,199,524.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert N. Schleckser sold 5,601 shares of Exxon Mobil stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $83.93, for a total transaction of $470,091.93. Following the completion of the sale, the vice president now directly owns 187,663 shares of the company’s stock, valued at approximately $15,750,555.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,357 shares of company stock valued at $4,273,910. 0.08% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of XOM. First American Trust FSB boosted its stake in shares of Exxon Mobil by 25.0% during the 2nd quarter. First American Trust FSB now owns 84,933 shares of the oil and gas company’s stock worth $6,857,000 after acquiring an additional 16,979 shares during the last quarter. Pioneer Trust Bank N A OR boosted its stake in shares of Exxon Mobil by 1.2% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 64,581 shares of the oil and gas company’s stock worth $5,213,000 after acquiring an additional 750 shares during the last quarter. Lau Associates LLC boosted its stake in shares of Exxon Mobil by 24.4% during the 2nd quarter. Lau Associates LLC now owns 41,917 shares of the oil and gas company’s stock worth $3,384,000 after acquiring an additional 8,218 shares during the last quarter. Robinson Value Management Ltd. boosted its stake in shares of Exxon Mobil by 0.5% during the 2nd quarter. Robinson Value Management Ltd. now owns 18,878 shares of the oil and gas company’s stock worth $1,524,000 after acquiring an additional 95 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Exxon Mobil by 2.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 332,365 shares of the oil and gas company’s stock worth $26,832,000 after acquiring an additional 8,569 shares during the last quarter. 51.05% of the stock is owned by institutional investors and hedge funds.
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Exxon Mobil 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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