Exxon Mobil (NYSE:XOM) Price Target Raised to $128.00

Exxon Mobil (NYSE:XOM) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $127.00 to $128.00 in a research note issued on Thursday. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 9.10% from the company’s current price.

A number of other brokerages have also issued reports on XOM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 price target on shares of Exxon Mobil in a report on Tuesday, October 8th. The Goldman Sachs Group boosted their price target on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday. Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wolfe Research increased their price target on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday. Finally, Bank of America started coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.37.

Exxon Mobil Stock Up 0.5 %

Shares of XOM traded up $0.63 during midday trading on Thursday, hitting $117.32. 5,978,197 shares of the company’s stock traded hands, compared to its average volume of 16,342,798. 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 stock has a market capitalization of $462.59 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 5.00 and a beta of 0.89. Exxon Mobil has a 1 year low of $95.77 and a 1 year high of $126.34. The firm’s fifty day moving average is $117.66 and its 200-day moving average is $116.39.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exxon Mobil will post 8.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after purchasing an additional 2,676,652 shares during the period. Bank of New York Mellon Corp increased its position in shares of Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after purchasing an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the period. Legal & General Group Plc lifted its position in Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares during the last quarter. Finally, Capital International Investors boosted its stake in 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 worth $3,197,989,000 after buying an additional 5,523,429 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

About Exxon Mobil

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.