ExxonMobil (NYSE:XOM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ExxonMobil (NYSE:XOM) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other research firms have also commented on XOM. DZ Bank lowered shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target for the company. in a report on Tuesday, August 4th. Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Wells Fargo & Company reiterated an “equal weight” rating and set a $182.00 price objective on shares of ExxonMobil in a research note on Thursday, October 1st. Citigroup reissued a “neutral” rating and set a $175.00 price objective (up from $150.00) on shares of ExxonMobil in a report on Wednesday, July 8th. Finally, BNP Paribas Exane reduced their price objective on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, ExxonMobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.70.

ExxonMobil Price Performance

XOM opened at $184.41 on Friday. The company has a market capitalization of $764.39 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 0.92 and a beta of 0.21. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil has a 12-month low of $112.51 and a 12-month high of $184.59. The business’s fifty day simple moving average is $165.81 and its 200-day simple moving average is $152.82.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, equities research analysts anticipate that ExxonMobil will post 13.63 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, August 17th. ExxonMobil’s dividend payout ratio is currently 53.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 1,540,902 shares in the last quarter. Amundi increased its holdings in shares of ExxonMobil by 5.1% during the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock valued at $4,158,563,000 after acquiring an additional 1,192,386 shares in the last quarter. GQG Partners LLC increased its holdings in shares of ExxonMobil by 153.3% during the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after acquiring an additional 10,214,420 shares in the last quarter. Swiss National Bank increased its holdings in shares of ExxonMobil by 5.9% during the first 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 in the last quarter. Finally, National Pension Service raised its position in shares of ExxonMobil by 1.8% in the 2nd quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock valued at $1,321,265,000 after purchasing an additional 166,268 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s refining business is expected to provide an approximately $4.5 billion earnings boost, potentially offsetting weaker results from lower crude prices. Investors are focused on whether this refining windfall will drive a strong third quarter. Can Exxon’s $4.5 Billion Refining Windfall Defy Dropping Crude Prices on Oct. 30?
• Positive Sentiment: Exchange-traded funds purchased about $1.41 billion of XOM on October 22, signaling strong institutional demand and helping support the stock’s recent advance. ETFs Bought $1.41 Billion of ExxonMobil
• Positive Sentiment: Analysts and value-investing commentary continue to highlight ExxonMobil’s scale, balance sheet, valuation and shareholder-return potential, supporting the view that XOM can remain attractive for long-term investors. Why Exxon Mobil Holdings Is a Top Value Stock for the Long-Term
• Positive Sentiment: ExxonMobil’s stock recently reached a record close amid elevated Brent crude prices, reinforcing momentum in the energy sector. ExxonMobil Stock Hit a Record Close
• Neutral Sentiment: Erste Group raised its earnings estimates for ExxonMobil, while the broader market enters a volatile week dominated by major earnings reports, economic data and an upcoming Federal Reserve meeting. Erste Group Bank Boosts Earnings Estimates for ExxonMobil
• Negative Sentiment: Persian Gulf oil exports have reportedly recovered above pre-conflict levels, and hopes that the Iran conflict is easing have pushed Brent crude lower. Increased supply and falling oil prices could pressure ExxonMobil’s upstream earnings and challenge its recent rally. Gulf Oil Is Roaring Back as Exxon Heads Into Earnings
• Negative Sentiment: With XOM trading near record levels and one valuation estimate below the current price, investors may require a strong earnings beat or favorable guidance to justify additional gains. Higher Treasury-bill yields also make dividend stocks relatively less attractive for income-focused investors. T-Bills Yield Up to 4.45% and Dividend Stocks

ExxonMobil Company Profile

Exxon Mobil Corporation, doing business as ExxonMobil (NYSE:XOM), is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.