Barclays Forecasts Strong Price Appreciation for ExxonMobil (NYSE:XOM) Stock

ExxonMobil (NYSE:XOM) had its price target increased by research analysts at Barclays from $200.00 to $206.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective indicates a potential upside of 20.78% from the company’s current price.

A number of other equities research analysts have also weighed in on XOM. Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Morgan Stanley raised their price target on ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. TD Cowen lifted their price objective on ExxonMobil from $180.00 to $193.00 and gave the stock a “buy” rating in a report on Wednesday, November 4th. Piper Sandler lifted their price objective on ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Finally, Bank of America cut ExxonMobil from a “buy” rating to a “neutral” rating and upped their price objective for the company from $154.00 to $158.00 in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ExxonMobil presently has an average rating of “Hold” and a consensus price target of $170.79.

ExxonMobil Stock Performance

ExxonMobil stock traded up $0.79 during midday trading on Friday, reaching $170.56. 11,452,675 shares of the company traded hands, compared to its average volume of 14,270,899. The firm has a market capitalization of $695.77 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.84 and a beta of 0.16. The business has a 50 day moving average of $169.38 and a two-hundred day moving average of $156.22. ExxonMobil has a 12 month low of $114.19 and a 12 month high of $188.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The company had revenue of $110.50 billion for the quarter, compared to analysts’ expectations of $104.89 billion. During the same quarter last year, the company posted $1.88 earnings per share. As a group, research analysts predict that ExxonMobil will post 13.34 earnings per share for the current year.

Hedge Funds Weigh In On ExxonMobil

Institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC grew its holdings in ExxonMobil by 1.5% during the third quarter. Fisher Asset Management LLC now owns 31,933,523 shares of the oil and gas company’s stock valued at $5,197,181,000 after purchasing an additional 465,409 shares during the period. Dimensional Fund Advisors LP increased its position in ExxonMobil by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock worth $4,812,790,000 after buying an additional 1,540,902 shares in the last quarter. Amundi increased its position in 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 buying an additional 1,192,386 shares in the last quarter. GQG Partners LLC increased its position in ExxonMobil by 153.3% in the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after buying an additional 10,214,420 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of ExxonMobil by 5.9% in the first quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock worth $2,099,783,000 after buying an additional 693,800 shares during the period. 61.80% of the stock is owned by institutional investors.

ExxonMobil News Summary

Here’s some of the latest news about XOM:

• Positive Sentiment: ExxonMobil approved the $12.5 billion Longtail development offshore Guyana. The project is expected to add future production capacity, supporting longer-term growth, although production is not expected until 2030. Article: ExxonMobil Advances Next Phase of Guyana Development with Longtail
• Positive Sentiment: Shareholder returns remain robust: ExxonMobil raised its quarterly dividend 3.9% to $1.07 per share, its 44th consecutive annual increase, and plans $20 billion in buybacks in 2027. The company generated more than $39 billion in free cash flow through September. Article: ExxonMobil dividend and buyback plans
• Negative Sentiment: Bernstein lowered its price target to $186 from $193 and warned that oil stocks may struggle to appreciate, while keeping an Outperform rating. Article: Analyst trims oil-stock price targets

ExxonMobil Company Profile

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products. The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.