Wells Fargo & Co. Reaffirms Buy Rating for Exxon Mobil Corp. (XOM)
Wells Fargo & Co. restated their buy rating on shares of Exxon Mobil Corp. (NYSE:XOM) in a research note released on Tuesday. The brokerage currently has a $98.00 price target on the stock, down from their prior price target of $108.50.
A number of other analysts also recently issued reports on the stock. Vetr upgraded shares of Exxon Mobil Corp. from a hold rating to a buy rating and set a $90.31 price target on the stock in a report on Tuesday, September 13th. Collins Stewart reissued a hold rating and issued a $83.50 price objective on shares of Exxon Mobil Corp. in a research note on Sunday, September 11th. Jefferies Group reissued a hold rating on shares of Exxon Mobil Corp. in a research note on Thursday, September 8th. Credit Suisse Group AG reissued an underperform rating on shares of Exxon Mobil Corp. in a research note on Tuesday, September 6th. Finally, Morningstar Inc. reissued a neutral rating on shares of Exxon Mobil Corp. in a research note on Tuesday, August 30th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $87.13.
Exxon Mobil Corp. (NYSE:XOM) opened at 83.54 on Tuesday. The company has a 50-day moving average of $86.89 and a 200-day moving average of $88.07. The company has a market capitalization of $346.41 billion, a P/E ratio of 33.18 and a beta of 0.78. Exxon Mobil Corp. has a 1-year low of $71.55 and a 1-year high of $95.55.
Exxon Mobil Corp. (NYSE:XOM) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.23. The company earned $57.69 billion during the quarter, compared to the consensus estimate of $60.23 billion. Exxon Mobil Corp. had a net margin of 4.51% and a return on equity of 5.94%. The business’s revenue was down 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Equities analysts expect that Exxon Mobil Corp. will post $2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Wednesday, August 10th. Exxon Mobil Corp.’s dividend payout ratio is currently 119.05%.
In related news, VP Robert Stuart Franklin sold 13,855 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president now owns 213,256 shares of the company’s stock, valued at $18,751,600.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in XOM. Edgar Lomax Co. VA raised its stake in shares of Exxon Mobil Corp. by 17.5% in the first quarter. Edgar Lomax Co. VA now owns 846,898 shares of the company’s stock worth $70,792,000 after buying an additional 126,050 shares in the last quarter. Gofen & Glossberg LLC IL raised its stake in shares of Exxon Mobil Corp. by 0.3% in the second quarter. Gofen & Glossberg LLC IL now owns 615,196 shares of the company’s stock worth $57,668,000 after buying an additional 1,572 shares in the last quarter. British Columbia Investment Management Corp raised its stake in shares of Exxon Mobil Corp. by 0.5% in the second quarter. British Columbia Investment Management Corp now owns 1,918,199 shares of the company’s stock worth $179,812,000 after buying an additional 9,739 shares in the last quarter. Canandaigua National Bank & Trust Co. raised its stake in shares of Exxon Mobil Corp. by 1.1% in the first quarter. Canandaigua National Bank & Trust Co. now owns 218,312 shares of the company’s stock worth $18,249,000 after buying an additional 2,477 shares in the last quarter. Finally, Profit Investment Management LLC purchased a new stake in shares of Exxon Mobil Corp. during the first quarter worth about $3,489,000. 50.42% of the stock is owned by hedge funds and other institutional investors.
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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