Exxon Mobil Corporation (NYSE:XOM) Rating Lowered to Sector Perform at Royal Bank Of Canada
Royal Bank Of Canada lowered shares of Exxon Mobil Corporation (NYSE:XOM) from an outperform rating to a sector perform rating in a research report sent to investors on Thursday, July 6th, MarketBeat.com reports. Royal Bank Of Canada currently has $95.00 price target on the oil and gas company’s stock, down from their prior price target of $96.00.
Several other brokerages also recently weighed in on XOM. Vetr downgraded Exxon Mobil Corporation from a buy rating to a hold rating and set a $85.59 target price for the company. in a research report on Thursday, March 30th. Scotiabank set a $86.00 target price on Exxon Mobil Corporation and gave the stock a buy rating in a research report on Saturday, June 17th. Morgan Stanley reaffirmed a sell rating and issued a $84.00 target price on shares of Exxon Mobil Corporation in a research report on Thursday, April 13th. HSBC Holdings plc reaffirmed a neutral rating and issued a $85.00 target price on shares of Exxon Mobil Corporation in a research report on Thursday, April 13th. Finally, Jefferies Group LLC reaffirmed a hold rating and issued a $86.00 target price on shares of Exxon Mobil Corporation in a research report on Wednesday, May 17th. Nine analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $85.39.
Shares of Exxon Mobil Corporation (NYSE:XOM) traded down 0.35% during trading on Thursday, reaching $80.21. The company had a trading volume of 8,287,406 shares. The firm has a 50-day moving average of $81.06 and a 200 day moving average of $82.01. The firm has a market capitalization of $339.85 billion, a price-to-earnings ratio of 28.97 and a beta of 0.81. Exxon Mobil Corporation has a 52 week low of $78.27 and a 52 week high of $93.21.
Exxon Mobil Corporation (NYSE:XOM) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.05. Exxon Mobil Corporation had a return on equity of 7.70% and a net margin of 4.75%. The firm had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil Corporation will post $3.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 14th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Thursday, August 10th. Exxon Mobil Corporation’s payout ratio is 111.19%.
Several hedge funds have recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. acquired a new stake in Exxon Mobil Corporation during the fourth quarter valued at approximately $101,000. Horan Securities Inc. acquired a new stake in Exxon Mobil Corporation during the first quarter valued at approximately $102,000. Riggs Asset Managment Co. Inc. boosted its stake in 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 in the last quarter. Watermark Asset Management Inc. acquired a new stake in Exxon Mobil Corporation during the first quarter valued at approximately $136,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 50.61% of the company’s stock.
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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