Exxon Mobil (XOM) Receives Hold Rating from Zacks Investment Research
Zacks Investment Research restated their hold rating on shares of Exxon Mobil (NYSE:XOM) in a research report report published on Saturday 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. This has allowed ExxonMobil to reward stockholders with a 6.3% average annual dividend hike over the past 35 years. Recently it reported strong third-quarter 2018 results, aided by robust oil and gas prices along with healthier fuel margins. Notably, the company continues to gain on ramped-up oil-equivalent production from Hebron field. However, turnaround activities at Singapore hurt the company’s Chemical business. Moreover, following the exit from a joint venture in Russia, ExxonMobil is foregoing significant growth opportunities from the region. The company is also facing ongoing investigations regarding climate change, warranting a cautious stance.”
XOM has been the topic of a number of other reports. Societe Generale set a $92.00 target price on shares of Exxon Mobil and gave the stock a buy rating in a research report on Wednesday, August 22nd. HSBC restated a buy rating and set a $96.00 target price on shares of Exxon Mobil in a research report on Wednesday, September 12th. Credit Suisse Group set a $80.00 target price on shares of Exxon Mobil and gave the stock a neutral rating in a research report on Thursday, September 6th. Piper Jaffray Companies restated a neutral rating on shares of Exxon Mobil in a research report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. restated a neutral rating and set a target price on shares of Exxon Mobil in a research report on Monday, November 5th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Exxon Mobil presently has an average rating of Hold and a consensus target price of $87.22.
Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 2nd. The oil and gas company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.25. The business had revenue of $76.61 billion for the quarter, compared to analyst estimates of $72.91 billion. Exxon Mobil had a net margin of 8.15% and a return on equity of 9.53%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. Analysts anticipate that Exxon Mobil will post 4.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, November 9th. Exxon Mobil’s dividend payout ratio is presently 91.36%.
In related news, VP Bradley W. Corson sold 15,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $84.02, for a total transaction of $1,260,300.00. Following the completion of the sale, the vice president now directly owns 214,774 shares of the company’s stock, valued at $18,045,311.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of XOM. Kwmg LLC acquired a new stake in Exxon Mobil in the second quarter valued at $102,000. CSat Investment Advisory L.P. acquired a new position in shares of Exxon Mobil during the 2nd quarter worth $108,000. WESPAC Advisors SoCal LLC acquired a new position in shares of Exxon Mobil during the 3rd quarter worth $110,000. Clearwater Capital Advisors LLC acquired a new position in shares of Exxon Mobil during the 1st quarter worth $122,000. Finally, Trilogy Capital Inc. acquired a new position in shares of Exxon Mobil during the 1st quarter worth $149,000. 52.39% of the stock is owned by hedge funds and other institutional investors.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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