Exxon Mobil (NYSE:XOM) Price Target Cut to $142.00

Exxon Mobil (NYSE:XOM) had its price target reduced by investment analysts at Morgan Stanley from $145.00 to $142.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential upside of 24.32% from the stock’s previous close.

A number of other equities research analysts have also recently commented on XOM. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Royal Bank of Canada restated a “sector perform” rating and set a $135.00 price objective on shares of Exxon Mobil in a report on Tuesday, July 9th. Sanford C. Bernstein decreased their price objective on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. UBS Group raised their price objective on Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company decreased their price objective on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.24.

Exxon Mobil Stock Performance

XOM opened at $114.22 on Monday. The stock has a market cap of $450.37 billion, a P/E ratio of 14.00, a P/E/G ratio of 4.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $115.73 and its 200 day simple moving average is $115.25. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The business had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. As a group, equities analysts anticipate that Exxon Mobil will post 8.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in Exxon Mobil in the first quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new position in Exxon Mobil in the second quarter valued at approximately $35,000. Anfield Capital Management LLC boosted its stake in Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 252 shares during the period. Fairscale Capital LLC acquired a new position in Exxon Mobil in the second quarter valued at approximately $39,000. Finally, POM Investment Strategies LLC boosted its stake in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 340 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

About Exxon Mobil

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.