Exxon Mobil (NYSE:XOM) Upgraded at Wall Street Zen

Key Points

• Exxon Mobil was upgraded from a "sell" to a "hold" rating by Wall Street Zen, signaling a more favorable outlook for the company.
• Analysts show increasing confidence, with price targets from firms like Morgan Stanley and UBS rising significantly, indicating positive sentiment around Exxon Mobil's stock.
• The company reported strong earnings recently, with a quarterly EPS of $1.64, surpassing expectations, despite a revenue decline compared to the previous year.

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

A number of other analysts have also recently issued reports on XOM. Morgan Stanley boosted their price objective on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Piper Sandler boosted their price objective on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Finally, UBS Group boosted their price target on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Exxon Mobil has an average rating of "Hold" and a consensus price target of $124.81.

Exxon Mobil Stock Up 0.1%

Shares of Exxon Mobil stock opened at $112.21 on Friday. The firm has a market cap of $478.38 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 2.05 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil has a 52-week low of $97.80 and a 52-week high of $126.34. The stock has a 50-day simple moving average of $110.55 and a 200-day simple moving average of $109.15.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion during 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%. The business's quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. On average, equities research analysts expect that Exxon Mobil will post 7.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company's stock.

Institutional Trading of Exxon Mobil

A number of hedge funds have recently made changes to their positions in the business. 10Elms LLP bought a new position in Exxon Mobil during the 4th quarter worth $25,000. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil in the 1st quarter valued at $29,000. Elequin Capital LP bought a new stake in Exxon Mobil during the 1st quarter worth $31,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil during the 4th quarter worth $32,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 238 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

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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