Exxon Mobil (NYSE:XOM) Trading Up 1.2% on Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM) shares traded up 1.2% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $127.00 to $128.00. The stock traded as high as $118.64 and last traded at $118.04. 2,433,220 shares traded hands during trading, a decline of 85% from the average session volume of 16,327,406 shares. The stock had previously closed at $116.69.

A number of other research firms also recently issued reports on XOM. Morgan Stanley reduced their price target on shares of Exxon Mobil from $142.00 to $140.00 in a research report on Thursday. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 price target on shares of Exxon Mobil in a report on Tuesday, October 8th. Bank of America began coverage on Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective for the company. Finally, Wolfe Research raised their target price on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $130.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares during the period. Bank of New York Mellon Corp raised its position in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after acquiring an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% in the 2nd 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 acquiring an additional 5,330,887 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The firm has a market capitalization of $453.35 billion, a P/E ratio of 13.75, a P/E/G ratio of 4.83 and a beta of 0.89. 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 business’s fifty day moving average is $117.67 and its 200 day moving average is $116.36.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. As a group, analysts forecast that Exxon Mobil Co. will post 8.05 EPS for the current year.

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.