Vetr Inc. Lowers Exxon Mobil Corporation (NYSE:XOM) to Buy

Exxon Mobil Corporation (NYSE:XOM) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday, July 11th. They presently have a $88.62 target price on the oil and gas company’s stock. Vetr‘s price objective suggests a potential upside of 10.83% from the company’s previous close.

Several other brokerages also recently commented on XOM. UBS AG set a $77.00 target price on Exxon Mobil Corporation and gave the stock a “sell” rating in a report on Tuesday, April 25th. Scotiabank set a $86.00 target price on Exxon Mobil Corporation and gave the stock a “buy” rating in a report on Saturday, June 17th. BMO Capital Markets reissued a “hold” rating and issued a $76.00 target price on shares of Exxon Mobil Corporation in a report on Friday, April 28th. Jefferies Group LLC reissued a “hold” rating and issued a $86.00 target price on shares of Exxon Mobil Corporation in a report on Friday, June 23rd. Finally, HSBC Holdings plc reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Exxon Mobil Corporation in a report on Thursday, April 13th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $85.39.

Exxon Mobil Corporation (NYSE:XOM) opened at 79.96 on Tuesday. The firm has a market cap of $338.79 billion, a price-to-earnings ratio of 28.88 and a beta of 0.81. The stock has a 50 day moving average price of $80.89 and a 200-day moving average price of $81.98. Exxon Mobil Corporation has a 12-month low of $78.27 and a 12-month high of $93.22.

Exxon Mobil Corporation (NYSE:XOM) last released its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by $0.05. Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The company had revenue of $62.88 billion during the quarter, compared to the consensus estimate of $61.35 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts forecast that Exxon Mobil Corporation will post $3.43 earnings per share for the current year.

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In other Exxon Mobil Corporation news, Director Steven Reinemund sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $80.23, for a total value of $88,253.00. Following the sale, the director now owns 43,125 shares in the company, valued at $3,459,918.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in XOM. Thomas J. Herzfeld Advisors Inc. purchased a new position in Exxon Mobil Corporation during the fourth quarter valued at about $101,000. Horan Securities Inc. bought a new stake in Exxon Mobil Corporation during the first quarter valued at $102,000. Riggs Asset Managment Co. Inc. increased its stake in Exxon Mobil Corporation by 27.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 292 shares during the period. Watermark Asset Management Inc. bought a new stake in Exxon Mobil Corporation during the first quarter valued at $136,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Exxon Mobil Corporation by 13.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,850 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 50.59% of the company’s stock.

About Exxon Mobil Corporation

Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Exxon Mobil Corporation (NYSE:XOM)

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