ExxonMobil (NYSE:XOM) Stock Rating Reaffirmed as "Equal Weight" by Wells Fargo & Company

Key Points

• Wells Fargo reaffirmed its “Equal Weight” rating on ExxonMobil and set a $182 price target, implying approximately 11.4% upside from the reported share price.
• Analyst sentiment remains mixed, with 11 Buy ratings and 14 Holds; MarketBeat’s consensus is “Hold” with an average target price of $164.78.
• ExxonMobil reported quarterly earnings of $3.52 per share, slightly below the $3.56 consensus estimate, while revenue of $114.53 billion exceeded expectations of $109.94 billion.

ExxonMobil (NYSE:XOM - Get Free Report)'s stock had its "equal weight" rating restated by investment analysts at Wells Fargo & Company in a research note issued to investors on Thursday, Benzinga reports. They currently have a $182.00 target price on the oil and gas company's stock. Wells Fargo & Company's price objective points to a potential upside of 11.42% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets increased their target price on shares of ExxonMobil from $160.00 to $170.00 and gave the company a "market perform" rating in a research note on Wednesday, August 12th. Barclays cut their price target on shares of ExxonMobil from $182.00 to $177.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Morgan Stanley raised their price objective on shares of ExxonMobil from $168.00 to $177.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. BNP Paribas Exane dropped their target price on ExxonMobil from $165.00 to $155.00 and set a "neutral" rating for the company in a research report on Friday, July 17th. Finally, Piper Sandler increased their price target on ExxonMobil from $158.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Eleven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, ExxonMobil has a consensus rating of "Hold" and a consensus target price of $164.78.

ExxonMobil Stock Performance

NYSE XOM opened at $163.35 on Thursday. The company has a market cap of $677.08 billion, a P/E ratio of 21.02, a P/E/G ratio of 0.98 and a beta of 0.18. 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 business's 50 day moving average price is $160.33 and its 200-day moving average price is $153.84. ExxonMobil has a fifty-two week low of $110.39 and a fifty-two week high of $176.41.

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). The company had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter in the previous year, the company posted $1.64 EPS. Sell-side analysts predict that ExxonMobil will post 12.01 earnings per share for the current year.

Hedge Funds Weigh In On ExxonMobil

A number of hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. boosted its stake in shares of ExxonMobil by 8.3% during the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company's stock valued at $83,525,000 after purchasing an additional 37,666 shares in the last quarter. Charles Schwab Trust Co lifted its holdings in ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company's stock worth $16,710,000 after buying an additional 97,424 shares during the period. CV Advisors LLC boosted its position in ExxonMobil by 126.7% during the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company's stock valued at $1,584,000 after acquiring an additional 6,478 shares in the last quarter. Midwest Trust Co increased its holdings in shares of ExxonMobil by 3.9% in the 1st quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company's stock valued at $120,623,000 after acquiring an additional 26,411 shares during the period. Finally, Vise Technologies Inc. lifted its stake in shares of ExxonMobil by 48.4% during the 4th quarter. Vise Technologies Inc. now owns 137,262 shares of the oil and gas company's stock worth $16,518,000 after purchasing an additional 44,767 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Company Profile

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.

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