Exxon Mobil (NYSE:XOM) Stock Price Expected to Rise, Bank of America Analyst Says

Exxon Mobil (NYSE:XOM) had its target price raised by analysts at Bank of America from $129.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Bank of America‘s target price suggests a potential downside of 1.39% from the company’s previous close.

XOM has been the topic of several other reports. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a report on Friday, January 16th. Mizuho raised their price target on Exxon Mobil from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Sanford C. Bernstein reduced their price objective on Exxon Mobil from $142.00 to $137.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Jefferies Financial Group increased their target price on Exxon Mobil from $146.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Exxon Mobil from $156.00 to $158.00 and gave the company an “overweight” rating in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.74.

Exxon Mobil Trading Up 1.5%

Exxon Mobil stock opened at $136.90 on Wednesday. Exxon Mobil has a 1 year low of $97.80 and a 1 year high of $136.94. The firm’s 50 day moving average price is $121.43 and its 200-day moving average price is $115.58. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market cap of $577.33 billion, a P/E ratio of 19.90, a PEG ratio of 8.76 and a beta of 0.37.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.16. The company had revenue of $83.33 billion for the quarter, compared to the consensus estimate of $83.09 billion. Exxon Mobil had a net margin of 8.99% and a return on equity of 11.22%. Exxon Mobil’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 EPS. On average, equities analysts predict that Exxon Mobil will post 7.43 earnings per share for the current fiscal year.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 3,000 shares of Exxon Mobil stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $117.19, for a total transaction of $351,570.00. Following the completion of the transaction, the vice president directly owned 28,584 shares of the company’s stock, valued at $3,349,758.96. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exxon Mobil

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Exxon Mobil during the second quarter valued at approximately $6,163,719,000. First Trust Advisors LP raised its holdings in shares of Exxon Mobil by 150.2% in the second quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock worth $819,560,000 after buying an additional 4,563,707 shares during the period. Cerity Partners LLC lifted its stake in shares of Exxon Mobil by 200.7% during the 2nd quarter. Cerity Partners LLC now owns 2,014,446 shares of the oil and gas company’s stock worth $217,162,000 after acquiring an additional 4,015,099 shares during the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Exxon Mobil by 10,809.8% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,095,106 shares of the oil and gas company’s stock valued at $333,652,000 after acquiring an additional 3,066,736 shares during the period. Finally, Franklin Resources Inc. grew its position in Exxon Mobil by 7.4% in the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after acquiring an additional 2,660,910 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

About Exxon Mobil

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.