ExxonMobil (NYSE:XOM) Stock Rating Lowered by Zacks Research

ExxonMobil (NYSE:XOM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on XOM. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a “neutral” rating in a research note on Friday, April 17th. UBS Group increased their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Jefferies Financial Group increased their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Wells Fargo & Company increased their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, HSBC increased their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Friday, March 20th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $165.55.

ExxonMobil Trading Down 1.3%

Shares of XOM stock opened at $147.80 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The firm has a market cap of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. The company has a 50-day moving average of $155.51 and a two-hundred day moving average of $139.90. ExxonMobil has a 1-year low of $101.18 and a 1-year high of $176.41.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. ExxonMobil’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. On average, analysts predict that ExxonMobil will post 11.49 EPS for the current year.

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the sale, the vice president owned 17,124 shares of the company’s stock, valued at approximately $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after acquiring an additional 1,457,560 shares during the last quarter. Norges Bank purchased a new position in ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp lifted its stake in ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp lifted its stake in ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after acquiring an additional 445,283 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after acquiring an additional 2,660,910 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.