Exxon Mobil (NYSE:XOM) Research Coverage Started at Bank of America

Investment analysts at Bank of America initiated coverage on shares of Exxon Mobil (NYSE:XOM) in a research report issued to clients and investors on Thursday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $124.00 price target on the oil and gas company’s stock. Bank of America‘s price target would indicate a potential upside of 2.79% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Mizuho boosted their price objective on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Truist Financial lowered their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, Sanford C. Bernstein reduced their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.44.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $120.63 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $475.64 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. The stock’s fifty day simple moving average is $117.32 and its two-hundred day simple moving average is $116.46. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the prior year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, analysts forecast that Exxon Mobil will post 8.11 EPS for the current fiscal year.

Institutional Trading of Exxon Mobil

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New Hampshire Trust raised its position in shares of Exxon Mobil by 11.6% in the first quarter. New Hampshire Trust now owns 55,065 shares of the oil and gas company’s stock worth $6,401,000 after buying an additional 5,716 shares in the last quarter. Collective Family Office LLC raised its holdings in shares of Exxon Mobil by 19.4% in the 1st quarter. Collective Family Office LLC now owns 2,492 shares of the oil and gas company’s stock valued at $290,000 after acquiring an additional 405 shares in the last quarter. Stolper Co boosted its position in shares of Exxon Mobil by 0.4% during the 1st quarter. Stolper Co now owns 23,809 shares of the oil and gas company’s stock valued at $2,768,000 after acquiring an additional 98 shares during the last quarter. Welch Group LLC grew its holdings in shares of Exxon Mobil by 1.9% during the first quarter. Welch Group LLC now owns 514,561 shares of the oil and gas company’s stock worth $59,813,000 after purchasing an additional 9,829 shares in the last quarter. Finally, MADDEN SECURITIES Corp increased its position in shares of Exxon Mobil by 15.7% in the first quarter. MADDEN SECURITIES Corp now owns 22,745 shares of the oil and gas company’s stock worth $2,644,000 after purchasing an additional 3,079 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.