Exxon Mobil Corporation (XOM) Upgraded to “Strong-Buy” by Vetr Inc.
Vetr upgraded shares of Exxon Mobil Corporation (NYSE:XOM) from a buy rating to a strong-buy rating in a research report released on Monday morning. The brokerage currently has $89.47 target price on the oil and gas company’s stock.
Several other equities research analysts have also issued reports on XOM. BNP Paribas reaffirmed a sell rating and set a $75.00 price target on shares of Exxon Mobil Corporation in a research note on Tuesday, March 28th. Morgan Stanley reaffirmed a sell rating and set a $88.00 price target on shares of Exxon Mobil Corporation in a research note on Tuesday, March 28th. Scotiabank set a $85.00 price target on Exxon Mobil Corporation and gave the stock a hold rating in a research note on Monday, March 27th. Zacks Investment Research raised Exxon Mobil Corporation from a sell rating to a hold rating in a research note on Tuesday, April 4th. Finally, Jefferies Group LLC reaffirmed a neutral rating and set a $92.00 price target on shares of Exxon Mobil Corporation in a research note on Thursday, April 6th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $85.46.
Shares of Exxon Mobil Corporation (XOM) opened at 80.83 on Monday. The stock’s 50 day moving average price is $81.22 and its 200-day moving average price is $82.22. Exxon Mobil Corporation has a 52-week low of $79.26 and a 52-week high of $93.22. The company has a market capitalization of $342.50 billion, a P/E ratio of 33.72 and a beta of 0.82.
Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. Exxon Mobil Corporation had a return on equity of 6.78% and a net margin of 4.17%. The firm had revenue of $63.29 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue was up 29.9% compared to the same quarter last year. On average, equities analysts expect that Exxon Mobil Corporation will post $3.51 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.77 per share. The ex-dividend date is Thursday, August 10th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.81%. Exxon Mobil Corporation’s dividend payout ratio (DPR) is 128.33%.
Several hedge funds and other institutional investors have recently bought and sold shares of XOM. State Street Corp increased its position in Exxon Mobil Corporation by 7.9% in the first quarter. State Street Corp now owns 215,767,383 shares of the oil and gas company’s stock worth $17,695,085,000 after buying an additional 15,740,895 shares during the period. Norges Bank purchased a new position in Exxon Mobil Corporation during the fourth quarter worth $3,306,084,000. Schwab Charles Investment Management Inc. increased its position in Exxon Mobil Corporation by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 19,116,927 shares of the oil and gas company’s stock worth $1,567,780,000 after buying an additional 1,150,881 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Exxon Mobil Corporation by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,909,244 shares of the oil and gas company’s stock worth $976,677,000 after buying an additional 51,810 shares during the period. Finally, APG Asset Management N.V. increased its position in Exxon Mobil Corporation by 22.7% in the second quarter. APG Asset Management N.V. now owns 11,272,171 shares of the oil and gas company’s stock worth $910,002,000 after buying an additional 2,088,263 shares during the period. Hedge funds and other institutional investors own 50.58% of the company’s stock.
About Exxon Mobil Corporation
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.
To view Vetr’s full report, visit Vetr’s official website.
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