ExxonMobil (NYSE:XOM) Price Target Cut to $170.00 by Analysts at Mizuho

ExxonMobil (NYSE:XOM) had its target price decreased by equities research analysts at Mizuho from $175.00 to $170.00 in a 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 price target suggests a potential upside of 22.06% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group raised their price target on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Barclays increased their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. UBS Group lifted their target price on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Scotiabank boosted their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Price Performance

Shares of NYSE XOM opened at $139.28 on Thursday. The company has a 50 day simple moving average of $146.80 and a two-hundred day simple moving average of $145.28. ExxonMobil has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company has a market capitalization of $577.29 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 0.61 and a beta of 0.17. 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 results 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. The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. Analysts expect that ExxonMobil will post 11.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XOM. Eagle Capital Management LLC raised its position in ExxonMobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 376 shares during the period. Caxton Associates LLP bought a new stake in ExxonMobil during the first quarter valued at about $305,000. Sivia Capital Partners LLC increased its position in ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock worth $1,211,000 after buying an additional 207 shares in the last quarter. United Bank raised its stake in shares of ExxonMobil by 2.8% in the second quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock worth $2,352,000 after buying an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. lifted its position in shares of ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock valued at $3,957,000 after buying an additional 5,443 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Key ExxonMobil News

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.