Exxon Mobil Corporation (XOM) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Exxon Mobil Corporation (NYSE:XOM) from a sell rating to a hold rating in a research report report published on Monday morning.
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.”
A number of other analysts also recently weighed in on the stock. Bank of America Corporation raised shares of Exxon Mobil Corporation from a neutral rating to a buy rating and increased their price target for the company from $95.00 to $100.00 in a report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) restated a neutral rating and issued a $83.00 price objective on shares of Exxon Mobil Corporation in a research note on Tuesday, May 30th. BMO Capital Markets increased their price objective on shares of Exxon Mobil Corporation from $76.00 to $80.00 and gave the company a market perform rating in a research note on Wednesday, June 21st. Wells Fargo & Company restated a market perform rating and issued a $82.00 price objective (down previously from $90.50) on shares of Exxon Mobil Corporation in a research note on Thursday, July 6th. Finally, Scotia Howard Weill upgraded shares of Exxon Mobil Corporation from a sector perform rating to an outperform rating in a research note on Monday, June 5th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $85.39.
Shares of Exxon Mobil Corporation (NYSE:XOM) opened at 80.06 on Monday. Exxon Mobil Corporation has a 52-week low of $78.27 and a 52-week high of $93.21. The stock has a 50 day moving average of $81.06 and a 200 day moving average of $82.01. The company has a market cap of $339.21 billion, a P/E ratio of 28.91 and a beta of 0.81.
Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $61.35 billion. During the same period last year, the company earned $0.41 earnings per share. Exxon Mobil Corporation’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Exxon Mobil Corporation will post $3.43 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 14th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, August 10th. Exxon Mobil Corporation’s dividend payout ratio (DPR) is presently 111.19%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Thomas J. Herzfeld Advisors Inc. acquired a new position in shares of Exxon Mobil Corporation during the fourth quarter valued at about $101,000. Horan Securities Inc. acquired a new position in shares of Exxon Mobil Corporation during the first quarter valued at about $102,000. Riggs Asset Managment Co. Inc. raised its position in shares of Exxon Mobil Corporation by 27.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 292 shares during the period. Watermark Asset Management Inc. acquired a new position in shares of Exxon Mobil Corporation during the first quarter valued at about $136,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Exxon Mobil Corporation by 13.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,850 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 220 shares during the period. 50.59% of the stock is currently owned by 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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