ExxonMobil (NYSE:XOM) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded ExxonMobil from strong-buy to hold, adding to a mixed analyst backdrop for the stock.
• Recent analyst updates have been split: some firms raised price targets and kept buy ratings, while others lowered views. Overall, MarketBeat says ExxonMobil now has a consensus Hold rating with an average target price of $165.55.
• ExxonMobil’s latest quarter beat expectations, posting EPS of $1.16 versus the $0.98 consensus and revenue of $83.16 billion versus $81.13 billion expected, but shares were trading below their 50-day average at $147.80.

ExxonMobil (NYSE:XOM - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. TD Cowen reduced their price objective on shares of ExxonMobil from $175.00 to $172.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Citigroup increased their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. Loop Capital set a $123.00 price objective on shares of ExxonMobil in a research note on Tuesday, February 3rd. Wolfe Research cut shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group increased their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $165.55.

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $147.80 on Tuesday. The firm has a fifty day moving average price of $155.51 and a 200-day moving average price of $139.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock has a market cap of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. ExxonMobil has a 1 year low of $101.18 and a 1 year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.76 earnings per share. Equities analysts anticipate that ExxonMobil will post 11.49 earnings per share for the current fiscal year.

Insider Buying and Selling at ExxonMobil

In related news, VP Darrin L. Talley sold 2,150 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares in the company, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On ExxonMobil

A number of hedge funds and other institutional investors have recently modified their holdings of XOM. Capital Investment Advisors LLC grew its holdings in shares of ExxonMobil by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock valued at $27,857,000 after purchasing an additional 14,233 shares during the period. New Age Alpha Advisors LLC grew its holdings in shares of ExxonMobil by 5.6% in the third quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock valued at $18,778,000 after purchasing an additional 8,853 shares during the period. HORAN Wealth LLC grew its holdings in shares of ExxonMobil by 78.3% in the third quarter. HORAN Wealth LLC now owns 13,180 shares of the oil and gas company's stock valued at $1,486,000 after purchasing an additional 5,788 shares during the period. Krilogy Financial LLC grew its holdings in shares of ExxonMobil by 46.6% in the third quarter. Krilogy Financial LLC now owns 35,160 shares of the oil and gas company's stock valued at $3,997,000 after purchasing an additional 11,177 shares during the period. Finally, Varma Mutual Pension Insurance Co grew its holdings in shares of ExxonMobil by 8.6% in the third quarter. Varma Mutual Pension Insurance Co now owns 655,303 shares of the oil and gas company's stock valued at $73,885,000 after purchasing an additional 51,900 shares during the period. Institutional investors own 61.80% of the company's stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip...

ExxonMobil Company Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.