ExxonMobil (NYSE:XOM) Given New $168.00 Price Target at Morgan Stanley

ExxonMobil (NYSE:XOM) had its price objective dropped by research analysts at Morgan Stanley from $171.00 to $168.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential upside of 22.58% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Barclays raised their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Wolfe Research cut ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Scotiabank increased their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Sanford C. Bernstein cut their price target on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.55.

ExxonMobil Price Performance

Shares of NYSE XOM traded up $0.52 during mid-day trading on Monday, reaching $137.06. The company had a trading volume of 4,961,724 shares, compared to its average volume of 20,415,402. The firm has a market cap of $568.10 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 0.58 and a beta of 0.16. The business’s 50-day simple moving average is $148.59 and its 200 day simple moving average is $144.16. ExxonMobil has a one year low of $105.53 and a one year high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the business posted $1.76 earnings per share. ExxonMobil’s revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that ExxonMobil will post 11.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XOM. Berbice Capital Management LLC acquired a new position in ExxonMobil during the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil during the fourth quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 187 shares in the last quarter. Key Capital Management INC acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Company Profile

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.