Exxon Mobil (NYSE:XOM) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Exxon Mobil (NYSE:XOM) in a report issued on Thursday, StockNewsAPI reports. The firm set a “neutral” rating and a $124.00 price target on the oil and gas company’s stock. Bank of America‘s target price suggests a potential upside of 2.79% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets raised their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Barclays dropped their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley reduced their price objective on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Truist Financial reduced their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.44.

Exxon Mobil Trading Down 0.0 %

XOM opened at $120.63 on Thursday. The company has a market cap of $475.64 billion, a P/E ratio of 14.79, a PEG ratio of 5.02 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $117.32 and its 200-day moving average is $116.46. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The firm had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $1.94 earnings per share. Equities research analysts predict that Exxon Mobil will post 8.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after acquiring an additional 14,158,054 shares in the last quarter. Global Assets Advisory LLC increased its stake in Exxon Mobil by 16,399.4% during the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after purchasing an additional 12,540,435 shares in the last quarter. Primecap Management Co. CA bought a new position in shares of Exxon Mobil in the second quarter valued at $980,210,000. Capital International Investors grew its holdings in shares of Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after acquiring an additional 5,330,887 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.