TD Cowen Forecasts Strong Price Appreciation for ExxonMobil (NYSE:XOM) Stock

ExxonMobil (NYSE:XOM) had its price objective hoisted by equities research analysts at TD Cowen from $168.00 to $180.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price objective indicates a potential upside of 11.57% from the company’s current price.

Several other brokerages have also recently issued reports on XOM. BNP Paribas Exane decreased their target price on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. DZ Bank downgraded ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 target price on the stock. in a research note on Tuesday, August 4th. The Goldman Sachs Group lifted their target price on ExxonMobil from $168.00 to $169.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Finally, UBS Group set a $172.00 price target on ExxonMobil in a research note on Friday. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $164.78.

ExxonMobil Stock Down 0.7%

Shares of NYSE:XOM opened at $161.34 on Monday. ExxonMobil has a 12-month low of $110.39 and a 12-month high of $176.41. The stock has a market capitalization of $668.73 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.99 and a beta of 0.18. The stock has a fifty day simple moving average of $160.16 and a two-hundred day simple moving average of $153.77. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter in the previous year, the business earned $1.64 earnings per share. On average, research analysts anticipate that ExxonMobil will post 12.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ExxonMobil

Hedge funds and other institutional investors have recently modified their holdings of the company. GQG Partners LLC increased its stake in ExxonMobil by 153.3% during the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after acquiring an additional 10,214,420 shares during the last quarter. Quantum Portfolio Management LLC purchased a new position in shares of ExxonMobil during the 1st quarter worth $965,932,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of ExxonMobil during the 1st quarter worth $766,345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ExxonMobil by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock valued at $1,925,119,000 after acquiring an additional 2,465,410 shares during the last quarter. Finally, Diamant Asset Management Inc. raised its stake in shares of ExxonMobil by 17,312.4% in the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company’s stock valued at $370,514,000 after acquiring an additional 2,171,322 shares during the period. 61.80% of the stock is owned by institutional investors.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: TD Cowen raised its price target to $180 from $168 and maintained a Buy rating. The firm expects strong third-quarter refining earnings, implying meaningful potential upside from recent levels. What’s Going On With ExxonMobil Stock Tuesday?
• Positive Sentiment: WTI crude above $90 per barrel is supporting ExxonMobil’s upstream outlook. Analysts point to the company’s low-cost Permian Basin production and continued oil and gas discoveries in Guyana as potential drivers of cash flow and growth. Are Current Oil Prices High Enough to Fuel ExxonMobil’s Growth?
• Positive Sentiment: ExxonMobil and Chevron are involved in a potential crude, LNG and LPG supply arrangement for Vietnam, which could strengthen regional commercial opportunities. Chevron, ExxonMobil Agree Potential Crude Supply to Vietnam
• Neutral Sentiment: Former ExxonMobil upstream chief Liam Mallon joined The Metals Company’s board to support its seabed-mining strategy. The appointment highlights his industry experience but has no immediate direct financial impact on ExxonMobil. Exxon veteran Liam Mallon joins TMC board ahead of seabed mining push
• Negative Sentiment: Sector-wide selling is weighing on XOM despite favorable commodity fundamentals. Investors are also debating whether the stock’s multiyear rally and current valuation already reflect much of its future cash-flow potential. Can ExxonMobil Holdings Stay Cheap With Cash Flow Growing?
• Negative Sentiment: Legal and governance headlines remain potential overhangs, including a climate-change case involving ExxonMobil and allegations by former executive Sheffield that Exxon launched a campaign against him. Supreme Court Justice Alito will not participate in climate change case

About ExxonMobil

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.