ExxonMobil (NYSE:XOM) Upgraded by Freedom Capital to Hold Rating

Freedom Capital upgraded shares of ExxonMobil (NYSE:XOM) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

XOM has been the subject of a number of other research reports. Barclays increased their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Sanford C. Bernstein dropped their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Nine research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $162.95.

ExxonMobil Trading Down 0.6%

Shares of XOM stock opened at $154.06 on Tuesday. The stock has a market cap of $638.56 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.63 and a beta of 0.17. The stock has a 50-day moving average of $145.75 and a 200-day moving average of $149.15. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil has a 1-year low of $105.53 and a 1-year high of $176.41.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter last year, the business earned $1.64 earnings per share. On average, equities research analysts forecast that ExxonMobil will post 11.46 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

Hedge Funds Weigh In On ExxonMobil

Institutional investors and hedge funds have recently modified their holdings of the business. Berbice Capital Management LLC acquired a new stake in ExxonMobil in the fourth quarter worth $26,000. Midwest Capital Advisors LLC acquired a new position in shares of ExxonMobil during the fourth quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 187 shares during the period. Aventus Investment Advisors Inc. bought a new position in shares of ExxonMobil during the 2nd quarter worth about $27,000. Finally, Key Capital Management INC bought a new position in shares of ExxonMobil during the 4th quarter worth about $28,000. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Strong Q2 operating performance: ExxonMobil reported approximately $14.5 billion in second-quarter profit, its best underlying quarterly result in four years. Production reached a more than 20-year high, including record Permian output, while strong oil prices and refining margins boosted results. ExxonMobil Posts US$14.5 Billion Q2 Profit As Production Hits 20 Year High
• Positive Sentiment: Refining conditions remain favorable: The Middle East conflict and disruptions around the Strait of Hormuz have tightened global fuel supplies, pushing gasoline, diesel and jet-fuel refining margins to record levels. This environment is benefiting ExxonMobil’s downstream business and helped drive broader energy-sector earnings. Middle East War Triggers New Global Refining Boom
• Positive Sentiment: More constructive analyst views: Freedom Capital upgraded ExxonMobil from “strong sell” to “hold,” while a recent analysis characterized the stock as potentially about 9% undervalued following the strong quarter. A Seeking Alpha article also issued a rating upgrade, reinforcing the improving outlook. Freedom Capital Rating Update
• Neutral Sentiment: Valuation and targets are mixed: DZ Bank reaffirmed its “hold” rating with a $156 price target, implying limited near-term upside from the current level. ExxonMobil’s recent gains and approximately $639 billion market capitalization may also reduce room for additional multiple expansion.
• Negative Sentiment: Political backlash creates risk: President Donald Trump criticized ExxonMobil and Chevron for making “too much money” as fuel prices rose, increasing the possibility of pressure for lower gasoline prices, windfall-profit measures or other policy intervention. ExxonMobil CEO Darren Woods said crude and gasoline prices have become disconnected, highlighting the sensitivity of the issue. Trump Criticizes Exxon and Chevron
• Negative Sentiment: Quarterly EPS slightly missed expectations: ExxonMobil reported $3.52 in adjusted EPS versus the $3.56 consensus estimate, despite revenue exceeding forecasts. The miss may temper enthusiasm if oil prices and refining margins normalize.

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.