Scotiabank Cuts Exxon Mobil (NYSE:XOM) Price Target to $140.00

Exxon Mobil (NYSE:XOM) had its target price cut by Scotiabank from $145.00 to $140.00 in a research note released on Friday morning.

Several other analysts have also recently weighed in on XOM. Bank of America assumed coverage on Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective for the company. Truist Financial boosted their price objective on Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Barclays dropped their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price target on shares of Exxon Mobil in a research note on Thursday, December 12th. Finally, Piper Sandler lowered their price target on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.30.

Exxon Mobil Stock Down 2.5 %

Shares of NYSE:XOM opened at $106.82 on Friday. Exxon Mobil has a 52 week low of $100.42 and a 52 week high of $126.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The company’s fifty day moving average is $110.36 and its 200-day moving average is $115.23. The company has a market capitalization of $469.48 billion, a PE ratio of 13.30, a P/E/G ratio of 2.84 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. During the same quarter last year, the company posted $2.48 EPS. Equities research analysts predict that Exxon Mobil will post 7.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XOM. Czech National Bank raised its holdings in shares of Exxon Mobil by 5.9% during the 3rd quarter. Czech National Bank now owns 905,051 shares of the oil and gas company’s stock valued at $106,090,000 after buying an additional 50,214 shares in the last quarter. VERITY Wealth Advisors increased its stake in Exxon Mobil by 64.7% in the 3rd quarter. VERITY Wealth Advisors now owns 13,081 shares of the oil and gas company’s stock worth $1,533,000 after purchasing an additional 5,141 shares during the period. Johnson & White Wealth Management LLC increased its stake in Exxon Mobil by 3.7% in the 3rd quarter. Johnson & White Wealth Management LLC now owns 11,522 shares of the oil and gas company’s stock worth $1,351,000 after purchasing an additional 412 shares during the period. Delta Financial Group Inc. increased its stake in Exxon Mobil by 0.7% in the 3rd quarter. Delta Financial Group Inc. now owns 55,684 shares of the oil and gas company’s stock worth $6,527,000 after purchasing an additional 367 shares during the period. Finally, Apella Capital LLC increased its stake in Exxon Mobil by 16.7% in the 3rd quarter. Apella Capital LLC now owns 19,459 shares of the oil and gas company’s stock worth $2,365,000 after purchasing an additional 2,787 shares during the period. Institutional investors own 61.80% of the company’s stock.

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.