Wolfe Research Issues Positive Forecast for Exxon Mobil (NYSE:XOM) Stock Price

Exxon Mobil (NYSE:XOM) had its price target raised by Wolfe Research from $137.00 to $138.00 in a report published on Thursday.

A number of other research firms also recently weighed in on XOM. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. The Goldman Sachs Group raised their price objective on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday. Barclays decreased their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.37.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded up $0.47 during trading on Thursday, reaching $117.25. 5,456,750 shares of the stock traded hands, compared to its average volume of 16,361,407. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The company has a market capitalization of $462.32 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 4.83 and a beta of 0.89. Exxon Mobil has a 52-week low of $95.77 and a 52-week high of $126.34. The business has a fifty day simple moving average of $117.70 and a two-hundred day simple moving average of $116.40.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the firm earned $1.94 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Sell-side analysts expect that Exxon Mobil will post 8.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of XOM. FPC Investment Advisory Inc. acquired a new stake in shares of Exxon Mobil during the 1st quarter valued at about $25,000. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil in the second quarter valued at about $35,000. Anfield Capital Management LLC raised its position in Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter worth approximately $39,000. Finally, POM Investment Strategies LLC lifted its stake in Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 340 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.