ExxonMobil (NYSE:XOM) Upgraded to “Buy” at Wall Street Zen

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

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on ExxonMobil from $182.00 to $189.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Morgan Stanley upped their target price on ExxonMobil from $185.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. BMO Capital Markets increased their target price on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ExxonMobil currently has a consensus rating of “Hold” and an average price target of $170.38.

ExxonMobil Trading Up 0.3%

XOM stock opened at $165.81 on Friday. The company’s 50-day simple moving average is $168.83 and its 200-day simple moving average is $155.41. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. ExxonMobil has a 52-week low of $114.19 and a 52-week high of $188.50. The firm has a market cap of $676.38 billion, a P/E ratio of 17.04, a PEG ratio of 0.82 and a beta of 0.16.

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

ExxonMobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be paid a dividend of $1.07 per share. This is an increase from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. This represents a $4.28 annualized dividend and a yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is presently 43.99%.

Hedge Funds Weigh In On ExxonMobil

Hedge funds have recently made changes to their positions in the company. Boston Trust Walden Corp purchased a new stake in shares of ExxonMobil in the 3rd quarter worth about $76,285,000. Assetmark Inc. grew its stake in ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after acquiring an additional 37,666 shares during the last quarter. Charles Schwab Trust Co grew its stake in ExxonMobil by 392.9% in the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock valued at $16,710,000 after acquiring an additional 97,424 shares during the last quarter. CV Advisors LLC increased its holdings in ExxonMobil by 126.7% during the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock valued at $1,584,000 after acquiring an additional 6,478 shares in the last quarter. Finally, Partners Wealth Management LLC purchased a new position in ExxonMobil during the 3rd quarter valued at about $3,317,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

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.

ExxonMobil serves customers and operates in markets around the world.