Vetr Inc. Downgrades Exxon Mobil Corp. (XOM) to Hold
Exxon Mobil Corp. (NYSE:XOM) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They presently have a $89.16 target price on the stock. Vetr‘s target price suggests a potential upside of 3.12% from the stock’s current price.
A number of other analysts also recently issued reports on XOM. Wells Fargo & Co. reissued an “outperform” rating on shares of Exxon Mobil Corp. in a report on Wednesday, June 1st. Bank of America Corp. downgraded shares of Exxon Mobil Corp. from a “buy” rating to a “neutral” rating and set a $96.00 price objective for the company. in a report on Thursday, June 2nd. They noted that the move was a valuation call. Credit Suisse Group AG restated a “sell” rating and issued a $78.00 target price on shares of Exxon Mobil Corp. in a research report on Thursday, June 2nd. Goldman Sachs Group Inc. restated a “conviction-buy” rating on shares of Exxon Mobil Corp. in a research report on Wednesday, June 8th. Finally, Morgan Stanley set a $95.00 target price on shares of Exxon Mobil Corp. and gave the company a “sell” rating in a research report on Monday, June 13th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.68.
Exxon Mobil Corp. (NYSE:XOM) opened at 86.46 on Wednesday. The stock’s 50 day moving average is $86.44 and its 200-day moving average is $88.13. Exxon Mobil Corp. has a 12 month low of $71.55 and a 12 month high of $95.55. The firm has a market cap of $358.52 billion, a price-to-earnings ratio of 34.34 and a beta of 0.78.
Exxon Mobil Corp. (NYSE:XOM) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.23. The business 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 for the quarter was down 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. On average, analysts anticipate that Exxon Mobil Corp. will post $2.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 12th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $3.00 annualized dividend and a yield of 3.47%. Exxon Mobil Corp.’s payout ratio is 119.05%.
In other Exxon Mobil Corp. news, VP Robert Stuart Franklin sold 13,855 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $87.93, for a total transaction of $1,218,270.15. Following the transaction, the vice president now owns 213,256 shares in the company, valued at $18,751,600.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. increased its position in Exxon Mobil Corp. by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 2,708 shares of the company’s stock valued at $254,000 after buying an additional 10 shares during the last quarter. Capital Asset Advisory Services LLC increased its stake in shares of Exxon Mobil Corp. by 0.4% in the second quarter. Capital Asset Advisory Services LLC now owns 3,394 shares of the company’s stock valued at $318,000 after buying an additional 15 shares in the last quarter. Elefante Mark B increased its stake in shares of Exxon Mobil Corp. by 0.6% in the second quarter. Elefante Mark B now owns 2,727 shares of the company’s stock valued at $257,000 after buying an additional 15 shares in the last quarter. Gibraltar Capital Management Inc. increased its stake in shares of Exxon Mobil Corp. by 0.6% in the second quarter. Gibraltar Capital Management Inc. now owns 2,911 shares of the company’s stock valued at $273,000 after buying an additional 18 shares in the last quarter. Finally, Round Table Services LLC increased its stake in shares of Exxon Mobil Corp. by 0.4% in the second quarter. Round Table Services LLC now owns 4,674 shares of the company’s stock valued at $438,000 after buying an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 50.42% of the company’s stock.
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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