Exxon Mobil (NYSE:XOM) Receives New Coverage from Analysts at Bank of America

Bank of America assumed coverage on shares of Exxon Mobil (NYSE:XOM) in a report issued on Thursday, MarketBeat reports. The brokerage issued a neutral rating and a $124.00 price objective on the oil and gas company’s stock.

XOM has been the topic of several other research reports. Wells Fargo & Company increased their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Barclays lowered their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. BMO Capital Markets increased their price target on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $120.00 price target on shares of Exxon Mobil in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average price target of $131.44.

Exxon Mobil Trading Down 0.3 %

Shares of XOM opened at $120.35 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. Exxon Mobil has a 12-month low of $95.77 and a 12-month high of $126.34. The firm has a market capitalization of $474.54 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. The stock’s fifty day simple moving average is $117.37 and its 200-day simple moving average is $116.49.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, research analysts predict that Exxon Mobil will post 8.11 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Hedge Funds Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New Hampshire Trust increased its holdings in shares of Exxon Mobil by 11.6% during the first quarter. New Hampshire Trust now owns 55,065 shares of the oil and gas company’s stock worth $6,401,000 after buying an additional 5,716 shares in the last quarter. Collective Family Office LLC raised its stake in Exxon Mobil by 19.4% during the 1st quarter. Collective Family Office LLC now owns 2,492 shares of the oil and gas company’s stock worth $290,000 after buying an additional 405 shares during the period. Stolper Co raised its holdings in Exxon Mobil by 0.4% during the first quarter. Stolper Co now owns 23,809 shares of the oil and gas company’s stock worth $2,768,000 after buying an additional 98 shares during the last quarter. Welch Group LLC boosted its stake in Exxon Mobil by 1.9% during the 1st quarter. Welch Group LLC now owns 514,561 shares of the oil and gas company’s stock valued at $59,813,000 after purchasing an additional 9,829 shares during the last quarter. Finally, MADDEN SECURITIES Corp lifted its stake in Exxon Mobil by 15.7% during the 1st quarter. MADDEN SECURITIES Corp now owns 22,745 shares of the oil and gas company’s stock valued at $2,644,000 after acquiring an additional 3,079 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

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.