ExxonMobil (NYSE:XOM) Stock Price Target Raised at Wells Fargo & Company

by · The Markets Daily

ExxonMobil (NYSE:XOM – Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $182.00 to $189.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 1.05% from the stock’s previous close.

Several other analysts have also recently commented on the company. Jefferies Financial Group raised their price target on ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a report on Monday, August 17th. Morgan Stanley lifted their price target on shares of ExxonMobil from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. HSBC reissued a “hold” rating and set a $90.00 target price on shares of ExxonMobil in a research report on Friday, September 25th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price target (up from $160.00) on shares of ExxonMobil in a research note on Monday, September 21st. Finally, Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $168.00.

Get Our Latest Stock Report on XOM

ExxonMobil Price Performance

Shares of NYSE XOM opened at $187.03 on Monday. The stock has a 50 day moving average of $167.76 and a two-hundred day moving average of $154.35. The stock has a market cap of $775.23 billion, a P/E ratio of 19.22, a P/E/G ratio of 0.94 and a beta of 0.21. ExxonMobil has a twelve month low of $112.51 and a twelve month high of $188.50. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11.

ExxonMobil (NYSE:XOM – Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The firm had revenue of $110.50 billion during the quarter, compared to analysts’ expectations of $104.89 billion. During the same quarter in the prior year, the business earned $1.88 EPS. On average, research analysts forecast that ExxonMobil will post 13.58 earnings per share for the current year.

Institutional Trading of ExxonMobil

Several institutional investors have recently made changes to their positions in XOM. Pathway Financial Advisers LLC lifted its holdings in shares of ExxonMobil by 4.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 8,787 shares of the oil and gas company’s stock valued at $1,430,000 after buying an additional 402 shares during the last quarter. Bfsg LLC bought a new stake in ExxonMobil during the third quarter valued at about $9,811,000. Cowa LLC grew its holdings in ExxonMobil by 5.3% in the 3rd quarter. Cowa LLC now owns 8,392 shares of the oil and gas company’s stock valued at $1,366,000 after buying an additional 426 shares during the last quarter. Boston Trust Walden Corp bought a new position in ExxonMobil during the third quarter worth $76,285,000. Finally, Sageworth Trust Co raised its position in shares of ExxonMobil by 123.7% during the third quarter. Sageworth Trust Co now owns 3,393 shares of the oil and gas company’s stock valued at $552,000 after buying an additional 1,876 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

  • Positive Sentiment: Strong Q3 earnings supported the rally. ExxonMobil generated approximately $15.4 billion in GAAP net income, or $3.72 in basic earnings per share, on $110.5 billion of revenue. Results exceeded expectations, with refining margins providing the main boost. ExxonMobil Q3 earnings article
  • Positive Sentiment: Dividend growth reinforces ExxonMobil’s income appeal. The company raised its quarterly dividend 3.9% to $1.07 per share, equivalent to $4.28 annually and a yield of roughly 2.3%. The increase reportedly marks the 44th consecutive annual dividend increase. ExxonMobil Q3 earnings takeaways
  • Positive Sentiment: Cash generation and capital returns remain strong. Free cash flow reportedly surged 90% year to date. ExxonMobil spent $5.1 billion on share repurchases during the quarter, more than its $4.3 billion in dividend payments, and reduced net debt by nearly $11 billion during the first nine months. ExxonMobil dividend and free cash flow article
  • Positive Sentiment: Analysts and financial commentators continue to describe XOM as a blue-chip energy holding, citing its low beta, scale and diversified upstream portfolio. Elevated geopolitical tensions have also supported oil-company profits and investor interest in the sector. ExxonMobil blue-chip energy investment article
  • Neutral Sentiment: Heavy trading in ExxonMobil call options and a reported 2.3% increase in Childress Capital Advisors’ stake suggest bullish positioning, but neither necessarily reflects long-term fundamental demand.
  • Negative Sentiment: Investors should watch earnings quality and valuation. Upstream earnings declined, refining margins drove much of the quarterly beat, and some reports characterized sales as below analyst estimates. With shares near their 52-week high, future gains may depend on sustained commodity prices and refining strength. ExxonMobil refining profits article

ExxonMobil Company Profile

(Get Free Report)

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.

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