Exxon Mobil (NYSE:XOM) Stock Price Up 0.4% After Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM) shares rose 0.4% on Friday after JPMorgan Chase & Co. raised their price target on the stock from $127.00 to $128.00. The stock traded as high as $119.93 and last traded at $117.25. Approximately 5,456,750 shares changed hands during trading, a decline of 67% from the average daily volume of 16,361,407 shares. The stock had previously closed at $116.78.

XOM has been the subject of a number of other research reports. Wolfe Research raised their price objective on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday. Barclays reduced their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Mizuho increased their price objective on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Redburn Atlantic reissued a “neutral” rating and issued a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Finally, Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $130.37.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds have recently modified their holdings of XOM. Massachusetts Financial Services Co. MA lifted its stake in shares of Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Primecap Management Co. CA acquired a new stake in Exxon Mobil in the 2nd quarter worth about $980,210,000. International Assets Investment Management LLC grew its holdings in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after buying an additional 6,805,982 shares during the period. Capital International Investors increased its stake in shares of Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after acquiring an additional 5,330,887 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

The company’s 50-day moving average is $117.67 and its 200-day moving average is $116.36. The firm has a market capitalization of $453.35 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 4.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. Exxon Mobil’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $1.94 EPS. On average, research analysts expect that Exxon Mobil Co. will post 8.05 earnings per share for the current year.

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.