Exxon Mobil (NYSE:XOM) Price Target Lowered to $117.00 at Truist Financial

Exxon Mobil (NYSE:XOM) had its price target decreased by stock analysts at Truist Financial from $121.00 to $117.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Truist Financial’s price target would suggest a potential downside of 2.48% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein cut their target price on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. UBS Group dropped their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley dropped their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company raised their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $119.97 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $115.93 and its two-hundred day moving average price is $115.81. Exxon Mobil has a 52-week low of $95.77 and a 52-week high of $123.75. The stock has a market capitalization of $473.04 billion, a P/E ratio of 14.70, a P/E/G ratio of 4.86 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter last year, the company posted $1.94 earnings per share. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts forecast that Exxon Mobil will post 8.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates grew its position in Exxon Mobil by 9.8% in the third quarter. Global Wealth Strategies & Associates now owns 2,198 shares of the oil and gas company’s stock worth $258,000 after buying an additional 197 shares during the last quarter. Mattson Financial Services LLC acquired a new position in Exxon Mobil in the second quarter worth approximately $1,397,000. Centaurus Financial Inc. boosted its stake in Exxon Mobil by 9.2% in the 2nd quarter. Centaurus Financial Inc. now owns 37,397 shares of the oil and gas company’s stock worth $4,305,000 after purchasing an additional 3,145 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Exxon Mobil by 9,314.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 790,781 shares of the oil and gas company’s stock worth $91,035,000 after purchasing an additional 782,381 shares during the period. Finally, Verity & Verity LLC boosted its stake in Exxon Mobil by 0.4% in the 2nd quarter. Verity & Verity LLC now owns 138,894 shares of the oil and gas company’s stock worth $15,989,000 after purchasing an additional 487 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.