Zacks Research Downgrades ExxonMobil (NYSE:XOM) to Hold

ExxonMobil (NYSE:XOM) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on XOM. BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. UBS Group upped their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Bank of America upped their price objective on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Finally, Barclays upped their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.55.

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $147.80 on Tuesday. The company’s fifty day moving average price is $155.51 and its 200 day moving average price is $139.90. ExxonMobil has a 1 year low of $101.18 and a 1 year high of $176.41. The company has a market capitalization of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. 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 announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that ExxonMobil will post 11.49 earnings per share for the current year.

Insiders Place Their Bets

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president directly owned 18,204 shares in the company, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On ExxonMobil

A number of hedge funds have recently modified their holdings of XOM. Norges Bank acquired a new stake in shares of ExxonMobil in the fourth quarter valued at about $7,625,063,000. Quantum Portfolio Management LLC acquired a new stake in shares of ExxonMobil in the first quarter valued at about $965,932,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ExxonMobil in the first quarter valued at about $766,345,000. Franklin Resources Inc. raised its position in shares of ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after buying an additional 2,660,910 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of ExxonMobil by 218.4% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock valued at $155,696,000 after buying an additional 2,546,791 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

ExxonMobil Company Profile

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.