TD Cowen Has Lowered Expectations for Exxon Mobil (NYSE:XOM) Stock Price

Exxon Mobil (NYSE:XOM) had its price objective reduced by research analysts at TD Cowen from $130.00 to $127.00 in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target would suggest a potential upside of 10.48% from the stock’s current price.

A number of other analysts also recently commented on the stock. Bank of America initiated coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective on the stock. Truist Financial lowered their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Morgan Stanley reduced their price objective on Exxon Mobil from $142.00 to $140.00 in a report on Thursday. JPMorgan Chase & Co. boosted their target price on Exxon Mobil from $127.00 to $128.00 in a research report on Thursday. Finally, Barclays cut their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Stock Performance

NYSE XOM opened at $114.95 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $117.67 and its two-hundred day moving average is $116.33. The stock has a market capitalization of $453.25 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 4.86 and a beta of 0.90. Exxon Mobil has a 12-month low of $95.77 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the prior year, the business posted $2.27 earnings per share. Exxon Mobil’s revenue was down .8% compared to the same quarter last year. Research analysts expect that Exxon Mobil will post 8.01 EPS for the current year.

Hedge Funds Weigh In On Exxon Mobil

Several large investors have recently added to or reduced their stakes in XOM. FPC Investment Advisory Inc. purchased a new position in shares of Exxon Mobil during the 1st quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in Exxon Mobil in the second quarter valued at approximately $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 252 shares during the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil during the second quarter worth approximately $39,000. Finally, POM Investment Strategies LLC boosted its holdings in shares of Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

About Exxon Mobil

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.