ExxonMobil (NYSE:XOM) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen raised ExxonMobil’s price target from $168 to $180 and maintained a “buy” rating, implying approximately 10.44% upside from the reported price.
• Analyst sentiment is mixed: 12 analysts rate ExxonMobil a Buy and 13 rate it a Hold, resulting in an overall “Hold” consensus and an average price target of $164.78.
• ExxonMobil reported quarterly earnings of $3.52 per share, slightly below estimates, while revenue of $114.53 billion exceeded expectations; institutional investors own 61.8% of the stock.

ExxonMobil (NYSE:XOM - Get Free Report) had its price target upped by equities researchers at TD Cowen from $168.00 to $180.00 in a report issued on Monday. The firm currently has a "buy" rating on the oil and gas company's stock. TD Cowen's price target points to a potential upside of 10.44% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Piper Sandler raised their price target on shares of ExxonMobil from $158.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Freedom Capital raised ExxonMobil from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on ExxonMobil from $158.00 to $166.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $180.00 price objective (up from $160.00) on shares of ExxonMobil in a research note on Monday, September 21st. Finally, BNP Paribas Exane dropped their price target on shares of ExxonMobil from $165.00 to $155.00 and set a "neutral" rating on the stock in a research report on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $164.78.

ExxonMobil Stock Up 1.5%

Shares of XOM opened at $162.98 on Monday. The stock has a market capitalization of $675.54 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 0.98 and a beta of 0.18. ExxonMobil has a 52 week low of $110.39 and a 52 week high of $176.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The stock has a fifty day moving average of $159.68 and a 200-day moving average of $153.60.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The firm had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter last year, the firm posted $1.64 earnings per share. As a group, sell-side analysts anticipate that ExxonMobil will post 12.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ExxonMobil

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in ExxonMobil by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company's stock worth $5,608,488,000 after acquiring an additional 531,362 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in ExxonMobil by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company's stock valued at $4,812,790,000 after purchasing an additional 1,540,902 shares in the last quarter. Amundi raised its holdings in shares of ExxonMobil by 5.1% during the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company's stock valued at $4,158,563,000 after purchasing an additional 1,192,386 shares during the period. Invesco Ltd. raised its holdings in shares of ExxonMobil by 3.4% during the fourth quarter. Invesco Ltd. now owns 17,367,358 shares of the oil and gas company's stock valued at $2,089,988,000 after purchasing an additional 577,181 shares during the period. Finally, GQG Partners LLC boosted its position in shares of ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock worth $2,307,497,000 after purchasing an additional 10,214,420 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

About ExxonMobil

Exxon Mobil Corporation, doing business as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and marketing of crude oil and natural gas. Its upstream operations support oil and natural gas production in multiple regions worldwide, while its downstream businesses refine crude oil into fuels and other petroleum products for commercial, industrial and consumer markets.

Through its product solutions businesses, ExxonMobil manufactures and markets lubricants, specialty fluids, petroleum-derived products and chemical products, including commodity and performance chemicals used in packaging, automotive components, construction materials and other industrial applications.

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