JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Exxon Mobil (NYSE:XOM) Stock

Exxon Mobil (NYSE:XOM) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $127.00 to $128.00 in a report issued on Thursday. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.33% from the company’s previous close.

XOM has been the subject of a number of other research reports. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Mizuho boosted their price objective on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Barclays reduced their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Finally, Morgan Stanley cut their price target on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $130.37.

Exxon Mobil Price Performance

XOM stock opened at $114.98 on Thursday. The business has a 50 day moving average price of $117.67 and a 200 day moving average price of $116.36. The stock has a market cap of $453.35 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 4.83 and a beta of 0.89. Exxon Mobil has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts anticipate that Exxon Mobil will post 8.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of XOM. Massachusetts Financial Services Co. MA grew its holdings in Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Exxon Mobil in the second quarter valued at $980,210,000. International Assets Investment Management LLC grew its holdings in Exxon Mobil by 7,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after purchasing an additional 6,805,982 shares during the last quarter. Capital International Investors grew its holdings in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.