Cowen and Company Reaffirms Buy Rating for Exxon Mobil Corporation (XOM)
Exxon Mobil Corporation (NYSE:XOM)‘s stock had its “buy” rating reissued by Cowen and Company in a research note issued to investors on Tuesday. They presently have a $100.00 price target on the oil and gas company’s stock. Cowen and Company’s price objective would suggest a potential upside of 24.86% from the stock’s previous close.
A number of other brokerages also recently issued reports on XOM. Vetr upgraded shares of Exxon Mobil Corporation from a “buy” rating to a “strong-buy” rating and set a $89.25 price target for the company in a report on Monday, June 5th. Societe Generale set a $95.00 price target on shares of Exxon Mobil Corporation and gave the stock a “buy” rating in a report on Friday, July 14th. Morgan Stanley set a $81.00 price target on shares of Exxon Mobil Corporation and gave the stock a “sell” rating in a report on Tuesday, July 11th. Royal Bank Of Canada downgraded shares of Exxon Mobil Corporation from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $96.00 to $95.00 in a report on Thursday, July 6th. Finally, BMO Capital Markets raised their price target on shares of Exxon Mobil Corporation from $76.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday, June 21st. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $84.65.
Exxon Mobil Corporation (NYSE XOM) traded up 0.01% on Tuesday, hitting $80.10. The stock had a trading volume of 4,734,029 shares. The firm’s 50 day moving average price is $78.37 and its 200-day moving average price is $80.79. Exxon Mobil Corporation has a 12 month low of $76.05 and a 12 month high of $93.22. The stock has a market cap of $339.39 billion, a PE ratio of 28.88 and a beta of 0.82.
Exxon Mobil Corporation (NYSE:XOM) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.05). The firm had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. On average, analysts forecast that Exxon Mobil Corporation will post $3.44 EPS for the current year.
In other news, VP Robert Stuart Franklin sold 22,656 shares of Exxon Mobil Corporation stock in a transaction on Monday, September 18th. The shares were sold at an average price of $79.76, for a total transaction of $1,807,042.56. Following the completion of the sale, the vice president now directly owns 231,572 shares of the company’s stock, valued at approximately $18,470,182.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven Reinemund sold 1,100 shares of Exxon Mobil Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the sale, the director now directly owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Horan Securities Inc. purchased a new stake in Exxon Mobil Corporation in the first quarter valued at $102,000. Riggs Asset Managment Co. Inc. lifted its position 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 acquiring an additional 292 shares during the last quarter. CWH Capital Management Inc. purchased a new stake in Exxon Mobil Corporation in the second quarter valued at $114,000. Watermark Asset Management Inc. purchased a new stake in Exxon Mobil Corporation in the first quarter valued at $136,000. Finally, Acrospire Investment Management LLC lifted its position in Exxon Mobil Corporation by 172.7% in the second quarter. Acrospire Investment Management LLC now owns 1,737 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 1,100 shares during the last quarter. 50.74% of the stock is owned by institutional investors and hedge funds.
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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