ExxonMobil (NYSE:XOM) Upgraded to Buy at Wall Street Zen

ExxonMobil (NYSE:XOM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

XOM has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their target price on ExxonMobil from $158.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Bank of America cut shares of ExxonMobil from a “buy” rating to a “neutral” rating and increased their target price for the company from $154.00 to $158.00 in a research report on Tuesday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 target price (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Morgan Stanley upped their target price on ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $178.00 price target on shares of ExxonMobil in a research note on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ExxonMobil currently has a consensus rating of “Hold” and a consensus price target of $170.38.

ExxonMobil Stock Performance

Shares of XOM opened at $165.81 on Friday. The firm’s 50 day moving average is $168.83 and its 200-day moving average is $155.41. ExxonMobil has a 12-month low of $114.19 and a 12-month high of $188.50. The stock has a market capitalization of $687.28 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.90 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. The firm had revenue of $110.50 billion during the quarter, compared to the consensus estimate of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same period last year, the company earned $1.88 earnings per share. Equities research analysts anticipate that ExxonMobil will post 13.34 EPS for the current fiscal year.

Institutional Investors Weigh In On ExxonMobil

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Advisory LLC increased its stake in ExxonMobil by 3.0% in the 3rd quarter. Cornerstone Advisory LLC now owns 21,903 shares of the oil and gas company’s stock valued at $3,565,000 after purchasing an additional 642 shares in the last quarter. ACT Capital Partners L.P. bought a new position in shares of ExxonMobil during the third quarter worth approximately $12,776,000. Ibex Wealth Advisors boosted its holdings in ExxonMobil by 0.6% in the third quarter. Ibex Wealth Advisors now owns 89,949 shares of the oil and gas company’s stock valued at $14,639,000 after acquiring an additional 566 shares during the last quarter. Clearwater Capital Advisors LLC purchased a new position in ExxonMobil in the third quarter worth $253,000. Finally, Wellington Grp LLC raised its stake in shares of ExxonMobil by 2.5% during the third quarter. Wellington Grp LLC now owns 7,187 shares of the oil and gas company’s stock worth $1,170,000 after acquiring an additional 172 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

ExxonMobil Company Profile

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.

The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

ExxonMobil serves customers and operates in markets around the world.