Zacks Investment Research cut shares of Exxon Mobil (NYSE:XOM) from a buy rating to a hold rating in a research note released on Sunday morning.
According to Zacks, “ExxonMobil has a leading position in the energy industry owing to the size and diversity of its asset base, both in terms of business mix and geographical footprint. With a stable cash position, the company’s balance sheet is one of the best in the industry, reflecting declining debt load over the first nine months of 2017. We appreciate ExxonMobil’s plans to combine its refining & marketing businesses as this will allow the company to take better decisions and boost performance. ExxonMobil will generate more cashflow from downstream activities, also helping it counter the volatility in its upstream business. However, dependence on costly offshore drilling might dent ExxonMobil’s cashflow. Also, ExxonMobil has lagged the broader industry over the past year, gaining a meagre 0.8% as against the 14.3% growth of the industry.”
A number of other brokerages have also commented on XOM. Royal Bank of Canada cut their price target on Exxon Mobil from $90.00 to $85.00 and set a sector perform rating on the stock in a report on Thursday, November 16th. Vetr upgraded Exxon Mobil from a sell rating to a hold rating and set a $87.50 price target on the stock in a report on Tuesday, January 16th. Jefferies Group set a $90.00 price target on Exxon Mobil and gave the company a neutral rating in a report on Friday. BNP Paribas set a $75.00 price target on Exxon Mobil and gave the company a sell rating in a report on Wednesday, November 15th. Finally, JPMorgan Chase & Co. set a $83.00 price target on Exxon Mobil and gave the company a neutral rating in a report on Monday, January 8th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $86.83.
Shares of Exxon Mobil (NYSE:XOM) traded down $0.28 during trading on Friday, hitting $87.15. The stock had a trading volume of 13,089,700 shares, compared to its average volume of 11,166,208. The company has a market capitalization of $372,230.00, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 1.33 and a beta of 0.82. Exxon Mobil has a 12 month low of $76.05 and a 12 month high of $88.21. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $66.17 billion for the quarter, compared to analyst estimates of $63.51 billion. Exxon Mobil had a return on equity of 8.21% and a net margin of 5.14%. During the same period in the previous year, the company posted $0.63 earnings per share. analysts expect that Exxon Mobil will post 3.71 earnings per share for the current fiscal year.
In other Exxon Mobil news, VP Robert N. Schleckser sold 4,877 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $83.37, for a total transaction of $406,595.49. Following the transaction, the vice president now owns 187,663 shares of the company’s stock, valued at $15,645,464.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert N. Schleckser sold 5,601 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $83.93, for a total value of $470,091.93. Following the transaction, the vice president now directly owns 187,663 shares in the company, valued at approximately $15,750,555.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,357 shares of company stock worth $4,273,910. Company insiders own 0.08% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Forte Capital LLC ADV boosted its stake in shares of Exxon Mobil by 3.9% in the fourth quarter. Forte Capital LLC ADV now owns 23,417 shares of the oil and gas company’s stock valued at $1,958,000 after buying an additional 881 shares during the period. Cornerstone Financial Partners LLC boosted its stake in shares of Exxon Mobil by 131.8% in the fourth quarter. Cornerstone Financial Partners LLC now owns 19,107 shares of the oil and gas company’s stock valued at $1,596,000 after buying an additional 10,864 shares during the period. Plancorp LLC boosted its stake in shares of Exxon Mobil by 1.4% in the fourth quarter. Plancorp LLC now owns 54,098 shares of the oil and gas company’s stock valued at $4,522,000 after buying an additional 733 shares during the period. V Wealth Management LLC boosted its stake in shares of Exxon Mobil by 7.0% in the fourth quarter. V Wealth Management LLC now owns 27,126 shares of the oil and gas company’s stock valued at $2,367,000 after buying an additional 1,777 shares during the period. Finally, Viking Fund Management LLC lifted its stake in Exxon Mobil by 3.9% during the fourth quarter. Viking Fund Management LLC now owns 185,700 shares of the oil and gas company’s stock worth $15,532,000 after purchasing an additional 7,000 shares during the last quarter. 51.12% of the stock is currently owned by institutional investors.
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About Exxon Mobil
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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