ExxonMobil Corporation (NYSE:XOM) Receives $163.95 Consensus Price Target from Brokerages

Shares of ExxonMobil Corporation (NYSE:XOM) have been given an average rating of “Moderate Buy” by the twenty-one brokerages that are currently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $165.55.

Several brokerages recently issued reports on XOM. Morgan Stanley reduced their price objective on ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. HSBC increased their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. Wells Fargo & Company raised their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Barclays boosted their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, TD Cowen dropped their price objective on shares of ExxonMobil from $175.00 to $172.00 and set a “buy” rating on the stock in a research note on Friday, April 10th.

More ExxonMobil News

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 Stock Performance

NYSE:XOM opened at $147.80 on Friday. The firm has a 50-day moving average of $155.51 and a two-hundred day moving average of $139.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock has a market cap of $612.63 billion, a P/E ratio of 24.92, a PEG ratio of 0.65 and a beta of 0.19. ExxonMobil has a 1-year low of $101.18 and a 1-year high of $176.41.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 EPS. On average, research analysts expect that ExxonMobil will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,150 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $157.82, for a total value of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares in the company, valued at $2,872,955.28. This represents a 10.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On ExxonMobil

Several hedge funds and other institutional investors have recently bought and sold shares of XOM. Berbice Capital Management LLC acquired a new position in ExxonMobil in the 4th quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil during the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 187 shares in the last quarter. Key Capital Management INC acquired a new position in ExxonMobil in the fourth quarter worth approximately $28,000. Finally, Westfuller Advisors LLC acquired a new position in ExxonMobil in the third quarter worth approximately $30,000. 61.80% of the stock is currently owned by institutional investors.

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.