ExxonMobil (NYSE:XOM) Cut to Neutral at Bank of America

Bank of America cut shares of ExxonMobil (NYSE:XOM) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage currently has $158.00 target price on the oil and gas company’s stock, up from their previous target price of $154.00.

A number of other brokerages have also issued reports on XOM. Sanford C. Bernstein lowered their target price on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Barclays raised their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Wolfe Research lowered shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and an average target price of $163.45.

ExxonMobil Price Performance

Shares of XOM stock opened at $157.08 on Tuesday. The stock has a 50 day moving average price of $145.65 and a 200 day moving average price of $148.55. ExxonMobil has a 52-week low of $105.53 and a 52-week high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The firm has a market capitalization of $651.09 billion, a P/E ratio of 26.49, a P/E/G ratio of 0.64 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the prior year, the company posted $1.76 EPS. ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that ExxonMobil will post 11.39 earnings per share for the current year.

Institutional Trading of ExxonMobil

Several institutional investors and hedge funds have recently made changes to their positions in XOM. Assetmark Inc. boosted its stake in ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after purchasing an additional 37,666 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of ExxonMobil by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock worth $126,166,000 after buying an additional 23,668 shares during the last quarter. Midwest Trust Co lifted its stake in shares of ExxonMobil by 3.9% during the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after buying an additional 26,411 shares during the period. King Luther Capital Management Corp grew its holdings in shares of ExxonMobil by 2.4% during the fourth quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock valued at $200,366,000 after buying an additional 38,492 shares during the last quarter. Finally, Valpey Financial Services LLC increased its position in shares of ExxonMobil by 12,037.6% in the 4th quarter. Valpey Financial Services LLC now owns 476,400 shares of the oil and gas company’s stock valued at $57,330,000 after acquiring an additional 472,475 shares during the period. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Escalating Middle East tensions and reduced expectations that the Strait of Hormuz will reopen pushed oil prices higher, supporting ExxonMobil’s upstream earnings outlook. Oil Prices Jump After U.S. and Iran Strikes Hit Hormuz Hopes
• Positive Sentiment: ExxonMobil is expected to report its strongest earnings and free cash flow since 2022. Investors are watching whether the company uses the cash windfall for dividends, share repurchases, debt reduction, or growth investments. Exxon Earnings Will Show What It Plans to Do With Its Cash Windfall
• Positive Sentiment: Erste Group Bank modestly raised its ExxonMobil EPS forecasts to $11.04 for fiscal 2026 and $11.00 for fiscal 2027, signaling slightly improved expectations, although both remain below the broader consensus for the current year. ExxonMobil earnings estimate revisions
• Positive Sentiment: A new carbon-capture and storage project with Williams in Louisiana could support ExxonMobil’s low-carbon business and strengthen its role in natural-gas processing infrastructure. ExxonMobil agrees to new CCS project with Williams
• Neutral Sentiment: ExxonMobil is scheduled to release second-quarter results before the market opens on July 31. Analysts cited by Benzinga expect approximately $3.68 in EPS and $97.66 billion in revenue, making the report a major near-term catalyst. How to Earn $500 a Month From Exxon Mobil Stock Ahead of Q2 Earnings
• Negative Sentiment: ExxonMobil and Chevron reportedly face hurdles in trying to expand access to Venezuelan oil, limiting a potential source of future production growth. Market Chatter: Exxon, Chevron Face Hurdles Trying to Tap Into Venezuelan Oil
• Negative Sentiment: Bank of America downgraded ExxonMobil and said the stock offers limited additional upside. That valuation concern could weigh on shares if earnings or management’s capital-allocation plans disappoint. Exxon Mobil Seen Offering Limited Upside, BofA Says

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.