ExxonMobil (NYSE:XOM) Raised to Buy at Wall Street Zen

ExxonMobil (NYSE:XOM) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen lifted their price target on shares of ExxonMobil from $180.00 to $193.00 and gave the stock a “buy” rating in a report on Wednesday. Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Bank of America cut shares of ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $154.00 to $158.00 in a research report on Tuesday, July 28th. UBS Group upped their price target on shares of ExxonMobil from $199.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Finally, JPMorgan Chase & Co. increased their price objective on ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ExxonMobil presently has an average rating of “Hold” and an average price target of $170.38.

ExxonMobil Stock Up 0.3%

Shares of ExxonMobil stock opened at $165.81 on Friday. ExxonMobil has a 52-week low of $114.19 and a 52-week high of $188.50. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $168.83 and a 200 day moving average of $155.41. The company has a market capitalization of $687.28 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.90 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The company had revenue of $110.50 billion during the quarter, compared to analyst estimates of $104.89 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. As a group, research analysts forecast that ExxonMobil will post 13.34 EPS for the current fiscal year.

Institutional Trading of ExxonMobil

Several large investors have recently bought and sold shares of the business. Cornerstone Advisory LLC increased its holdings in shares of ExxonMobil by 3.0% in the 3rd quarter. Cornerstone Advisory LLC now owns 21,903 shares of the oil and gas company’s stock worth $3,565,000 after buying an additional 642 shares during the last quarter. ACT Capital Partners L.P. purchased a new position in shares of ExxonMobil in the third quarter worth about $12,776,000. Ibex Wealth Advisors grew its position in shares of ExxonMobil by 0.6% in the third quarter. Ibex Wealth Advisors now owns 89,949 shares of the oil and gas company’s stock valued at $14,639,000 after purchasing an additional 566 shares during the period. Clearwater Capital Advisors LLC purchased a new position in shares of ExxonMobil during the 3rd quarter worth $253,000. Finally, Wellington Grp LLC lifted its position in shares of ExxonMobil by 2.5% during the 3rd quarter. Wellington Grp LLC now owns 7,187 shares of the oil and gas company’s stock worth $1,170,000 after purchasing an additional 172 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

About ExxonMobil

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.

The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

ExxonMobil serves customers and operates in markets around the world.