Morgan Stanley Cuts ExxonMobil (NYSE:XOM) Price Target to $168.00

ExxonMobil (NYSE:XOM) had its price objective dropped by investment analysts at Morgan Stanley from $171.00 to $168.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s target price points to a potential upside of 22.58% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Sanford C. Bernstein cut their target price on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Piper Sandler reduced their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ExxonMobil presently has an average rating of “Moderate Buy” and a consensus target price of $165.55.

ExxonMobil Stock Up 0.4%

NYSE XOM traded up $0.52 during trading hours on Monday, hitting $137.06. The company’s stock had a trading volume of 4,961,724 shares, compared to its average volume of 20,415,402. The company has a market capitalization of $568.10 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.58 and a beta of 0.16. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. ExxonMobil has a 52 week low of $105.53 and a 52 week high of $176.41. The company’s 50-day simple moving average is $148.59 and its two-hundred day simple moving average is $144.16.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts anticipate that ExxonMobil will post 11.86 EPS for the current fiscal year.

Hedge Funds Weigh In On ExxonMobil

Several institutional investors have recently bought and sold shares of the company. Portus Wealth Advisors LLC purchased a new stake in ExxonMobil in the first quarter worth $36,000. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil during the 4th quarter valued at $26,000. Midwest Capital Advisors LLC bought a new position in shares of ExxonMobil during the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 187 shares during the last quarter. Finally, Atlantic Private Wealth LLC increased its holdings in ExxonMobil by 776.9% in the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Company Profile

ExxonMobil 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.