Wells Fargo & Company Initiates Coverage on Exxon Mobil (NYSE:XOM)

Key Points

• Wells Fargo & Company has initiated coverage on Exxon Mobil with an "overweight" rating and a price target of $156.00, indicating a potential upside of 40.91% from its previous close.
• Other analysts have varied ratings on Exxon Mobil, with a consensus target price of $127.58 and a majority currently rating it as a "Moderate Buy."
• Exxon Mobil has reported a net margin of 9.17% on $57.55 billion revenue for the last quarter, with expected earnings per share of 7.43 for the current year.

Investment analysts at Wells Fargo & Company started coverage on shares of Exxon Mobil (NYSE:XOM - Get Free Report) in a research report issued to clients and investors on Friday,Benzinga reports. The firm set an "overweight" rating and a $156.00 price target on the oil and gas company's stock. Wells Fargo & Company's price target would indicate a potential upside of 40.91% from the stock's previous close.

Several other research analysts also recently issued reports on the company. Melius initiated coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target for the company. Piper Sandler set a $141.00 price target on Exxon Mobil in a research note on Tuesday, October 7th. Melius Research initiated coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target for the company. TD Cowen boosted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Barclays cut their target price on shares of Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $127.58.

Exxon Mobil Stock Performance

NYSE:XOM opened at $110.71 on Friday. The firm's fifty day moving average price is $111.72 and its 200 day moving average price is $109.30. Exxon Mobil has a 1-year low of $97.80 and a 1-year high of $123.21. 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 firm has a market cap of $471.98 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion during the quarter. On average, sell-side analysts expect that Exxon Mobil will post 7.43 EPS for the current year.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was 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 in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

Institutional Trading of Exxon Mobil

A number of institutional investors have recently modified their holdings of XOM. Norges Bank purchased a new position in Exxon Mobil in the 2nd quarter worth approximately $6,163,719,000. Nuveen LLC acquired a new position in shares of Exxon Mobil in the 1st quarter valued at approximately $2,730,414,000. GQG Partners LLC raised its position in shares of Exxon Mobil by 15,135.7% in the 1st 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 purchasing an additional 10,004,975 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at approximately $607,621,000. Finally, First Trust Advisors LP raised its position in shares of Exxon Mobil by 150.2% in the 2nd quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company's stock valued at $819,560,000 after purchasing an additional 4,563,707 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

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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