January 4, 2024 [Market Beat]- Exxon Mobil was downgraded by research analysts at Mizuho from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $117.00 price objective on the oil and gas company’s stock. Mizuho’s price objective would suggest a potential upside of 14.30% from the company’s current price.
Several other research analysts have also recently issued reports on XOM. Jefferies Financial Group raised their target price on shares of Exxon Mobil from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. UBS Group reduced their price objective on Exxon Mobil from $138.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Sanford C. Bernstein began coverage on Exxon Mobil in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $140.00 target price on the stock. StockNews.com began coverage on Exxon Mobil in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Wells Fargo & Company upped their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus target price of $127.90.
Exxon Mobil Stock Up 2.4 %
Shares of XOM stock opened at $102.36 on Wednesday. Exxon Mobil has a fifty-two week low of $97.48 and a fifty-two week high of $120.70. The firm has a market capitalization of $405.64 billion, a PE ratio of 10.16, a P/E/G ratio of 3.41 and a beta of 0.97. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.08 and a current ratio of 1.42. The stock’s 50-day simple moving average is $103.01 and its 200-day simple moving average is $107.09.
Exxon Mobil last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.09). Exxon Mobil had a return on equity of 20.72% and a net margin of 11.56%. The business had revenue of $90.76 billion during the quarter, compared to analyst estimates of $93.41 billion. During the same quarter last year, the company posted $4.45 EPS. Exxon Mobil’s quarterly revenue was down 19.0% compared to the same quarter last year. Equities analysts expect that Exxon Mobil will post 9.18 earnings per share for the current year.
Insider Buying and Selling
In other Exxon Mobil news, Director Jeffrey W. Ubben sold 2,077,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $104.06, for a total value of $216,132,620.00. Following the transaction, the director now directly owns 13,000 shares in the company, valued at approximately $1,352,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exxon Mobil news, Director Jeffrey W. Ubben bought 250,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was bought at an average price of $105.97 per share, with a total value of $26,492,500.00. Following the completion of the purchase, the director now directly owns 2,077,000 shares in the company, valued at $220,099,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey W. Ubben sold 2,077,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $104.06, for a total value of $216,132,620.00. Following the sale, the director now directly owns 13,000 shares of the company’s stock, valued at $1,352,780. 0.04% of the stock is owned by company insiders.
Hedge Funds Weigh In On Exxon Mobil
Several large investors have recently made changes to their positions in the stock. Horizons Wealth Management grew its stake in shares of Exxon Mobil by 214.6% in the second quarter. Horizons Wealth Management now owns 453 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 309 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in Exxon Mobil by 41.0% during the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 64,171 shares of the oil and gas company’s stock worth $6,882,000 after purchasing an additional 18,664 shares during the period. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Exxon Mobil during the first quarter worth about $1,963,000. Thrivent Financial for Lutherans boosted its stake in shares of Exxon Mobil by 8.2% in the first quarter. Thrivent Financial for Lutherans now owns 1,235,860 shares of the oil and gas company’s stock valued at $135,515,000 after purchasing an additional 94,056 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Exxon Mobil by 23.5% in the second quarter. Sequoia Financial Advisors LLC now owns 229,416 shares of the oil and gas company’s stock valued at $24,605,000 after purchasing an additional 43,654 shares in the last quarter. 58.53% of the stock is currently owned by institutional investors and hedge funds.
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