Mizuho Issues Pessimistic Forecast for ExxonMobil (NYSE:XOM) Stock Price

ExxonMobil (NYSE:XOM) had its price objective reduced by investment analysts at Mizuho from $175.00 to $170.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Mizuho’s target price would suggest a potential upside of 22.06% from the company’s current price.

A number of other equities analysts have also commented on the company. Scotiabank increased their price target on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Morgan Stanley cut their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Finally, Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, ExxonMobil currently has an average rating of “Moderate Buy” and a consensus target price of $164.45.

ExxonMobil Stock Performance

XOM opened at $139.28 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a market capitalization of $577.29 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 0.61 and a beta of 0.17. The company has a fifty day moving average of $146.80 and a 200 day moving average of $145.28. ExxonMobil has a fifty-two week low of $105.53 and a fifty-two week high of $176.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS 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 for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that ExxonMobil will post 11.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Berbice Capital Management LLC purchased a new position in ExxonMobil during the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC bought a new stake in ExxonMobil during the fourth quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its position 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 buying an additional 187 shares during the last quarter. Key Capital Management INC bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and partners will invest $1 billion in Nigeria’s Usan Infill Project, which is expected to add about 40,000 barrels per day of oil production. That suggests long-term growth in upstream output and improves the company’s future production profile. Article: ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says
• Positive Sentiment: ExxonMobil recently signaled that higher oil prices should lift second-quarter upstream earnings by $3.5 billion to $3.9 billion. Rising crude prices and conflict-related supply concerns have been a clear tailwind for the stock. Article: Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Several articles noted that renewed oil-price strength and a wider energy-sector rally have pushed ExxonMobil higher, with analysts pointing to a potential Q2 earnings beat and a rebound in upstream profitability. Article: Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Neutral Sentiment: Commentary pieces comparing ExxonMobil with Chevron and Coca-Cola are mostly valuation and long-term dividend discussions. They may keep XOM in focus, but they do not appear to be direct catalysts for the stock today. Article: ExxonMobil vs. Chevron: Which Oil Dividend Stock is the Better Buy for a Lifetime of Passive Income
• Negative Sentiment: Some market commentary suggests ExxonMobil has pulled back recently as oil prices softened at times, and one note said UBS trimmed its Q2 EPS estimate slightly after Exxon’s latest earnings update. That may weigh on sentiment near term. Article: Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses

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.