ExxonMobil (NYSE:XOM) Earns Equal Weight Rating from Wells Fargo & Company

ExxonMobil (NYSE:XOM)‘s stock had its “equal weight” rating restated by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $182.00 price objective on the oil and gas company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.42% from the stock’s current price.

Several other brokerages also recently weighed in on XOM. UBS Group set a $172.00 target price on ExxonMobil in a research note on Friday, September 25th. BMO Capital Markets increased their price target on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. Piper Sandler raised their price target on ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Barclays dropped their price target on ExxonMobil from $182.00 to $177.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Eleven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $164.78.

ExxonMobil Price Performance

Shares of XOM opened at $163.35 on Thursday. The company has a market cap of $677.08 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.98 and a beta of 0.18. ExxonMobil has a twelve month low of $110.39 and a twelve month high of $176.41. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $160.33 and a two-hundred day moving average of $153.84.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The business had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, analysts predict that ExxonMobil will post 12.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of ExxonMobil by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock valued at $4,812,790,000 after purchasing an additional 1,540,902 shares in the last quarter. Amundi raised its position in shares of ExxonMobil by 5.1% in the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock worth $4,158,563,000 after acquiring an additional 1,192,386 shares during the period. GQG Partners LLC boosted its stake in shares of ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after acquiring an additional 10,214,420 shares in the last quarter. Swiss National Bank grew its position in shares of ExxonMobil by 5.9% during the 1st quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock valued at $2,099,783,000 after acquiring an additional 693,800 shares during the period. Finally, Invesco Ltd. increased its stake in shares of ExxonMobil by 3.4% in the 4th quarter. Invesco Ltd. now owns 17,367,358 shares of the oil and gas company’s stock valued at $2,089,988,000 after purchasing an additional 577,181 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Company Profile

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.