Exxon Mobil (NYSE:XOM) Price Target Raised to $135.00 at Morgan Stanley

Key Points

• Morgan Stanley raised its price target for Exxon Mobil from $134.00 to $135.00, indicating a potential upside of 24.24% from the current price, while maintaining an "overweight" rating on the stock.
• Recent estimates from various firms show a consensus price target of $125.26, with an average rating of "Moderate Buy" among analysts.
• Exxon Mobil reported a net margin of 9.17% and a revenue of $81.51 billion for the last quarter, beating expectations and marking a 12.4% decline compared to the previous year.

Exxon Mobil (NYSE:XOM - Get Free Report) had its price target lifted by investment analysts at Morgan Stanley from $134.00 to $135.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the oil and gas company's stock. Morgan Stanley's target price suggests a potential upside of 24.24% from the stock's current price.

A number of other research firms have also recently weighed in on XOM. Mizuho lowered their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler upped their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $125.26.

Exxon Mobil Stock Performance

XOM traded down $0.98 during trading on Monday, hitting $108.66. The stock had a trading volume of 4,293,224 shares, compared to its average volume of 16,745,395. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a market capitalization of $468.29 billion, a P/E ratio of 15.43, a PEG ratio of 2.06 and a beta of 0.53. The company's 50-day moving average price is $109.48 and its 200 day moving average price is $109.11. Exxon Mobil has a twelve month low of $97.80 and a twelve month high of $126.34.

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 the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.14 EPS. On average, equities research analysts forecast that Exxon Mobil will post 7.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quantinno Capital Management LP lifted its holdings in shares of Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after acquiring an additional 110,772 shares during the period. Accredited Wealth Management LLC purchased a new position in shares of Exxon Mobil during the 4th quarter worth about $55,000. Journey Strategic Wealth LLC lifted its holdings in shares of Exxon Mobil by 6.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after acquiring an additional 1,379 shares during the period. Legacy Trust lifted its holdings in shares of Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after acquiring an additional 997 shares during the period. Finally, Hartford Funds Management Co LLC lifted its holdings in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after acquiring an additional 2,617 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

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