ExxonMobil (NYSE:XOM) Given New $206.00 Price Target at Barclays

ExxonMobil (NYSE:XOM) had its target price lifted by equities researchers at Barclays from $200.00 to $206.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective would indicate a potential upside of 20.88% from the company’s previous close.

A number of other equities research analysts also recently weighed in on XOM. Jefferies Financial Group raised their target price on ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a report on Monday, August 17th. William Blair began coverage on shares of ExxonMobil in a research report on Wednesday, October 28th. They issued a “market perform” rating for the company. Freedom Broker lifted their price target on shares of ExxonMobil from $142.00 to $162.00 and gave the stock a “hold” rating in a report on Friday, November 6th. Wells Fargo & Company increased their price objective on ExxonMobil from $182.00 to $189.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Finally, Morgan Stanley lifted their price objective on ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ExxonMobil has an average rating of “Hold” and a consensus price target of $170.79.

ExxonMobil Stock Up 0.4%

Shares of NYSE XOM traded up $0.63 during trading hours on Friday, hitting $170.41. The company had a trading volume of 1,751,766 shares, compared to its average volume of 17,568,830. The firm’s 50 day moving average is $169.21 and its 200-day moving average is $156.06. ExxonMobil has a 1-year low of $114.19 and a 1-year high of $188.50. The stock has a market capitalization of $695.15 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 0.83 and a beta of 0.16. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. The company had revenue of $110.50 billion during the quarter, compared to analysts’ expectations 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 firm posted $1.88 earnings per share. On average, analysts expect that ExxonMobil will post 13.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. Boston Trust Walden Corp bought a new position in ExxonMobil in the 3rd quarter valued at $76,285,000. Assetmark Inc. increased its position in shares of ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after purchasing an additional 37,666 shares during the last quarter. Charles Schwab Trust Co raised its stake in shares of ExxonMobil by 392.9% during the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after purchasing an additional 97,424 shares during the period. CV Advisors LLC raised its stake in shares of ExxonMobil by 126.7% during the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 6,478 shares during the period. Finally, Partners Wealth Management LLC purchased a new position in shares of ExxonMobil in the 3rd quarter worth about $3,317,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Top ExxonMobil Stories

These are some of the XOM stories that stood out recently:

• Positive Sentiment: ExxonMobil approved a $12.5 billion final investment decision for the Longtail project offshore Guyana, advancing a development expected to add future production capacity. ExxonMobil takes $12.5-billion FID on Longtail development offshore Guyana
• Positive Sentiment: Recent reports said oil remained above $85 a barrel, with Brent nearing $96 in Thursday trading. Sustained high prices could benefit ExxonMobil’s upstream business, particularly its lower-cost Permian and Guyana assets. Oil Price is Still High: Boon for ExxonMobil’s Upstream Business?
• Negative Sentiment: Bernstein lowered its ExxonMobil price target from $193 to $186, while keeping an “outperform” rating. The cut signals more cautious near-term expectations, despite the remaining implied upside in the cited report. Analyst trims price targets, warns oil stocks may struggle to appreciate

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.