Exxon Mobil (NYSE:XOM) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Exxon Mobil has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a recent research note to investors.
• The company's current stock consensus rating is "Hold," with a target price averaging at $125.26, according to various analysts.
• Despite a recent quarterly earnings report showing better-than-expected earnings per share (EPS) of $1.64, Exxon Mobil's revenue has declined by 12.4% year-over-year.

Exxon Mobil (NYSE:XOM - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Mizuho decreased their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $125.26.

Exxon Mobil Trading Down 0.8%

Exxon Mobil stock opened at $106.54 on Friday. The business has a 50-day simple moving average of $110.25 and a two-hundred day simple moving average of $108.88. The company has a market cap of $454.21 billion, a P/E ratio of 15.13, a P/E/G ratio of 2.02 and a beta of 0.53. Exxon Mobil has a 52-week low of $97.80 and a 52-week high of $126.34. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The firm's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. Analysts predict that Exxon Mobil will post 7.43 EPS for the current year.

Institutional Investors Weigh In On Exxon Mobil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Exxon Mobil in the second quarter worth about $6,163,719,000. Nuveen LLC purchased a new position in shares of Exxon Mobil in the first quarter worth about $2,730,414,000. GQG Partners LLC raised its position in Exxon Mobil by 15,135.7% during the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock valued at $1,197,753,000 after acquiring an additional 10,004,975 shares in the last quarter. GAMMA Investing LLC raised its position in Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock valued at $1,124,787,000 after acquiring an additional 9,391,614 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Exxon Mobil during the second quarter valued at approximately $607,621,000. 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.

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