ExxonMobil (NYSE:XOM) Downgraded by Bank of America to Neutral

ExxonMobil (NYSE:XOM) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat reports. They currently have a $158.00 target price on the oil and gas company’s stock. Bank of America‘s price objective points to a potential upside of 2.26% from the company’s current price.

Several other analysts also recently weighed in on XOM. UBS Group boosted their price objective on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Morgan Stanley lowered their price objective on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Jefferies Financial Group raised their target price on ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Piper Sandler initiated coverage on ExxonMobil in a report on Thursday. They set a “neutral” rating and a $158.00 price target on the stock. Finally, Sanford C. Bernstein reduced their target price on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $163.45.

ExxonMobil Stock Down 1.6%

Shares of NYSE:XOM opened at $154.50 on Tuesday. The stock’s 50-day moving average price is $145.80 and its 200-day moving average price is $147.84. ExxonMobil has a 12-month low of $105.53 and a 12-month high of $176.41. The stock has a market capitalization of $640.42 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 0.64 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.76 EPS. On average, equities analysts anticipate that ExxonMobil will post 11.55 earnings per share for the current year.

Institutional Investors Weigh In On ExxonMobil

Several institutional investors and hedge funds have recently made changes to their positions in XOM. Udine Wealth Management Inc. grew its position in ExxonMobil by 1.8% in the 2nd quarter. Udine Wealth Management Inc. now owns 26,323 shares of the oil and gas company’s stock worth $3,599,000 after purchasing an additional 472 shares during the period. WealthBridge Capital Management LLC grew its holdings in shares of ExxonMobil by 28.2% in the second quarter. WealthBridge Capital Management LLC now owns 20,613 shares of the oil and gas company’s stock worth $2,818,000 after acquiring an additional 4,539 shares during the period. Petra Financial Advisors Inc. bought a new stake in shares of ExxonMobil in the second quarter worth $467,000. Stronghold Wealth Management L.L.C. increased its position in ExxonMobil by 4.0% during the second quarter. Stronghold Wealth Management L.L.C. now owns 4,329 shares of the oil and gas company’s stock valued at $592,000 after acquiring an additional 168 shares during the last quarter. Finally, Gray Private Wealth LLC lifted its holdings in ExxonMobil by 42.4% in the second quarter. Gray Private Wealth LLC now owns 2,482 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 739 shares during the period. Institutional investors own 61.80% of the company’s stock.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Wall Street analysts remain moderately optimistic after ExxonMobil outperformed the broader market over the past year, suggesting expectations for additional gains. Are Wall Street Analysts Predicting ExxonMobil Stock Will Climb or Sink?
• Positive Sentiment: If crude oil remains above $100 per barrel, ExxonMobil could benefit from stronger upstream cash generation, making it one of the established producers positioned to gain from sustained high prices. Top 3 stocks that could rally if oil settles above $100
• Positive Sentiment: A valuation analysis argues that ExxonMobil may still trade below estimates of its intrinsic value and relevant market multiples, despite its substantial five-year return. ExxonMobil Stock Could Be Cheap on Value
• Neutral Sentiment: ExxonMobil is reportedly shifting new oil investment toward Nigeria and other African opportunities. The move could support future production, but returns will depend on project execution and regional risks. ExxonMobil Is Moving New Oil Spending to Nigeria and Africa
• Neutral Sentiment: Investors are focused on ExxonMobil’s upcoming earnings report, alongside major technology and energy companies, which could provide a near-term catalyst. Markets are also watching the Federal Reserve and inflation data. Earnings Week Ahead
• Negative Sentiment: Oil prices fell as tensions in the Middle East appeared to ease, reducing the immediate geopolitical premium in crude and weighing on oil producers such as XOM. Exxon Mobil Shares Fall as Oil Prices Tumble
• Negative Sentiment: The latest trading coverage reported ExxonMobil declining while the wider market gained, reflecting near-term sector pressure rather than a new company-specific operational issue. Exxon Mobil Stock Sinks as Market Gains

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.