Royal Bank of Canada Lowers Exxon Mobil (NYSE:XOM) Price Target to $115.00

Exxon Mobil (NYSE:XOM) had its target price dropped by Royal Bank of Canada from $120.00 to $115.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price would indicate a potential downside of 2.26% from the company’s previous close.

A number of other brokerages have also recently commented on XOM. Truist Financial decreased their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company lifted their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Bank of America started coverage on Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target on the stock. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their price target on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $129.95.

Exxon Mobil Stock Performance

NYSE:XOM opened at $117.66 on Tuesday. The business has a 50 day moving average of $119.67 and a 200 day moving average of $116.57. The company has a market capitalization of $517.13 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 5.04 and a beta of 0.90. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 EPS. On average, sell-side analysts predict that Exxon Mobil will post 7.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Exxon Mobil by 0.3% in the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock worth $17,801,457,000 after acquiring an additional 395,218 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Exxon Mobil by 1.8% in the third quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock worth $10,777,735,000 after acquiring an additional 1,622,064 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after acquiring an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exxon Mobil by 16.9% in the second 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 in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after acquiring an additional 5,235,607 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

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.