Mizuho Has Lowered Expectations for Exxon Mobil (NYSE:XOM) Stock Price

Key Points

• Mizuho has reduced its price target for Exxon Mobil from $124.00 to $123.00, maintaining a "neutral" rating, indicating a potential upside of 9.51% from the current stock price.
• Exxon Mobil reported $1.64 earnings per share in its last quarter, exceeding analysts' expectations, despite a 12.4% decline in revenue year-over-year.
• A significant majority of financial analysts have rated Exxon Mobil with a "Hold" or higher, with an average target price expectation of $124.76.

Exxon Mobil (NYSE:XOM - Get Free Report) had its price objective reduced by investment analysts at Mizuho from $124.00 to $123.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. Mizuho's target price would suggest a potential upside of 9.51% from the stock's current price.

A number of other analysts have also recently commented on XOM. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Morgan Stanley upped their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Barclays restated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. TD Cowen upped their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $124.76.

Exxon Mobil Trading Up 0.1%

Shares of Exxon Mobil stock traded up $0.16 on Monday, hitting $112.32. 2,716,760 shares of the company's stock traded hands, compared to its average volume of 16,453,725. Exxon Mobil has a one year low of $97.80 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The company has a market capitalization of $478.83 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57. The company has a fifty day moving average of $110.55 and a two-hundred day moving average of $109.14.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Exxon Mobil will post 7.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Exxon Mobil

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Journey Strategic Wealth LLC boosted its holdings in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after purchasing an additional 1,379 shares during the last quarter. Legacy Trust boosted its stake in 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 purchasing an additional 997 shares during the period. Hartford Funds Management Co LLC lifted its stake in shares of Exxon Mobil by 51.8% in 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. Phoenix Financial Ltd. lifted its stake in shares of Exxon Mobil by 23.9% in the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after acquiring an additional 18,752 shares during the period. Finally, SteelPeak Wealth LLC increased its holdings in shares of Exxon Mobil by 24.2% in the 1st quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company's stock valued at $4,605,000 after purchasing an additional 7,543 shares in the last quarter. 61.80% of the stock is currently 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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