Royal Bank of Canada Reaffirms Sector Perform Rating for Exxon Mobil (NYSE:XOM)

Exxon Mobil (NYSE:XOM)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They presently have a $120.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 1.20% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Barclays reduced their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Mizuho boosted their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised their price target on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. Finally, Truist Financial reduced their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Trading Up 3.2 %

Shares of XOM stock traded up $3.63 during trading hours on Monday, hitting $118.58. The company had a trading volume of 3,533,459 shares, compared to its average volume of 16,373,870. Exxon Mobil has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company’s fifty day moving average is $117.67 and its 200 day moving average is $116.33. The stock has a market capitalization of $467.56 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same period last year, the firm earned $2.27 earnings per share. Exxon Mobil’s quarterly revenue was down .8% on a year-over-year basis. Research analysts expect that Exxon Mobil will post 8.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exxon Mobil

Several institutional investors and hedge funds have recently bought and sold shares of XOM. Massachusetts Financial Services Co. MA raised its holdings in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after acquiring an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $980,210,000. International Assets Investment Management LLC grew its stake in shares of Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after buying an additional 6,805,982 shares in the last quarter. Capital International Investors raised its position in Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after acquiring an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after acquiring an additional 5,330,887 shares during the last quarter. Hedge funds and other institutional investors 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.