Zacks Investment Research downgraded shares of Exxon Mobil (NYSE:XOM) from a strong-buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “ExxonMobil has a leading position in the energy industry owing to the size and diversity of its asset base, both in terms of business mix and geographical footprint. With a stable cash position, the company’s balance sheet is one of the best in the industry, reflecting declining debt load over the first nine months of 2017. We appreciate ExxonMobil’s plans to combine its refining & marketing businesses as this will allow the company to take better decisions and boost performance. ExxonMobil will generate more cashflow from downstream activities, also helping it counter the volatility in its upstream business. However, dependence on costly offshore drilling might dent ExxonMobil’s cashflow. Also, ExxonMobil has lost 7.9% of its value year to date versus the 1.9% growth of smaller rival Chevron.”
XOM has been the subject of a number of other research reports. Vetr downgraded Exxon Mobil from a buy rating to a hold rating and set a $85.17 target price for the company. in a research report on Friday, October 6th. Royal Bank of Canada restated a sector perform rating on shares of Exxon Mobil in a research report on Friday, November 24th. Barclays restated an overweight rating and issued a $94.00 target price (up previously from $91.00) on shares of Exxon Mobil in a research report on Friday, October 13th. Morgan Stanley restated an underperform rating on shares of Exxon Mobil in a research report on Thursday, October 19th. Finally, BNP Paribas set a $70.00 target price on Exxon Mobil and gave the stock a sell rating in a research report on Monday, September 25th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $86.32.
Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.04. The company had revenue of $66.17 billion during the quarter, compared to the consensus estimate of $63.51 billion. Exxon Mobil had a return on equity of 8.21% and a net margin of 5.14%. During the same quarter in the previous year, the company posted $0.63 EPS. research analysts forecast that Exxon Mobil will post 3.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 13th were given a $0.77 dividend. The ex-dividend date was Friday, November 10th. This represents a $3.08 annualized dividend and a yield of 3.71%. Exxon Mobil’s payout ratio is currently 100.33%.
In other news, VP Robert N. Schleckser sold 4,877 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $83.37, for a total transaction of $406,595.49. Following the transaction, the vice president now directly owns 187,663 shares of the company’s stock, valued at $15,645,464.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James M. Spellings, Jr. sold 9,379 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $83.37, for a total value of $781,927.23. Following the transaction, the insider now directly owns 220,000 shares in the company, valued at $18,341,400. The disclosure for this sale can be found here. Insiders sold 51,357 shares of company stock valued at $4,273,910 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of XOM. Shelton Capital Management grew its stake in Exxon Mobil by 4.8% in the third quarter. Shelton Capital Management now owns 217,251 shares of the oil and gas company’s stock worth $17,810,000 after purchasing an additional 9,975 shares during the period. Chicago Partners Investment Group LLC grew its stake in Exxon Mobil by 205.2% in the third quarter. Chicago Partners Investment Group LLC now owns 23,178 shares of the oil and gas company’s stock worth $1,900,000 after purchasing an additional 15,584 shares during the period. Institutional & Family Asset Management LLC grew its stake in Exxon Mobil by 3.7% in the third quarter. Institutional & Family Asset Management LLC now owns 76,307 shares of the oil and gas company’s stock worth $6,256,000 after purchasing an additional 2,689 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Exxon Mobil in the third quarter worth $7,687,000. Finally, Public Employees Retirement System of Ohio grew its stake in Exxon Mobil by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 3,018,011 shares of the oil and gas company’s stock worth $247,417,000 after purchasing an additional 12,123 shares during the period. 51.18% of the stock is currently owned by hedge funds and other institutional investors.
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About Exxon Mobil
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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