Vetr Inc. Downgrades Exxon Mobil Corporation (NYSE:XOM) to Hold
Exxon Mobil Corporation (NYSE:XOM) was downgraded by Vetr from a “buy” rating to a “hold” rating in a report issued on Wednesday. They currently have a $79.60 target price on the oil and gas company’s stock. Vetr‘s price target points to a potential downside of 0.76% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Argus reissued a “focus list” rating and set a $104.00 price objective (up previously from $91.00) on shares of Exxon Mobil Corporation in a research report on Thursday, May 18th. UBS AG set a $77.00 price objective on shares of Exxon Mobil Corporation and gave the stock a “sell” rating in a research report on Tuesday, April 25th. Scotiabank set a $86.00 price objective on shares of Exxon Mobil Corporation and gave the stock a “buy” rating in a research report on Saturday, June 17th. Simmons increased their price objective on shares of Exxon Mobil Corporation from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 19th. Finally, Hilliard Lyons began coverage on shares of Exxon Mobil Corporation in a research report on Wednesday, June 7th. They set a “term buy” rating and a $90.00 price objective on the stock. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $84.98.
Shares of Exxon Mobil Corporation (NYSE XOM) traded up 0.31% during midday trading on Wednesday, hitting $80.21. The company had a trading volume of 8,087,101 shares. Exxon Mobil Corporation has a one year low of $78.27 and a one year high of $93.22. The stock has a market capitalization of $339.85 billion, a price-to-earnings ratio of 28.97 and a beta of 0.81. The stock’s 50-day moving average price is $80.89 and its 200-day moving average price is $81.98.
Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.05. The business had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Analysts predict that Exxon Mobil Corporation will post $3.43 EPS for the current year.
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In other news, Director Steven Reinemund sold 1,100 shares of Exxon Mobil Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $80.23, for a total transaction of $88,253.00. Following the completion of the sale, the director now directly owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company’s stock.
A number of hedge funds have recently bought and sold shares of XOM. Rosenbaum Jay D. increased its stake in Exxon Mobil Corporation by 10.6% in the first quarter. Rosenbaum Jay D. now owns 17,951 shares of the oil and gas company’s stock valued at $1,473,000 after buying an additional 1,725 shares in the last quarter. Tyers Asset Management LLC acquired a new stake in Exxon Mobil Corporation during the fourth quarter valued at $12,144,000. Oakmont Partners LLC increased its stake in Exxon Mobil Corporation by 7.8% in the first quarter. Oakmont Partners LLC now owns 7,330 shares of the oil and gas company’s stock valued at $601,000 after buying an additional 532 shares in the last quarter. Merriman Wealth Management LLC increased its stake in Exxon Mobil Corporation by 16.6% in the first quarter. Merriman Wealth Management LLC now owns 13,249 shares of the oil and gas company’s stock valued at $1,087,000 after buying an additional 1,891 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in Exxon Mobil Corporation by 13.6% in the first quarter. Gradient Investments LLC now owns 105,261 shares of the oil and gas company’s stock valued at $8,632,000 after buying an additional 12,573 shares in the last quarter. 50.59% of the stock is owned by institutional investors and hedge funds.
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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