Wolfe Research Downgrades Exxon Mobil Corporation (XOM) to Underperform

Exxon Mobil Corporation (NYSE:XOM) was downgraded by investment analysts at Wolfe Research from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Monday, July 17th.

Other equities research analysts have also issued research reports about the stock. Vetr raised shares of Exxon Mobil Corporation from a “hold” rating to a “buy” rating and set a $87.64 price objective for the company in a report on Tuesday, April 11th. Royal Bank Of Canada reissued a “buy” rating and issued a $96.00 price objective on shares of Exxon Mobil Corporation in a report on Tuesday, April 25th. Bank of America Corporation raised shares of Exxon Mobil Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $100.00 in a report on Thursday, May 11th. Scotiabank raised shares of Exxon Mobil Corporation from a “sector perform” rating to a “buy” rating and upped their price objective for the company from $85.00 to $86.00 in a report on Monday, June 5th. Finally, Societe Generale set a $95.00 target price on shares of Exxon Mobil Corporation and gave the stock a “buy” rating in a research note on Friday, July 14th. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Exxon Mobil Corporation has an average rating of “Hold” and a consensus price target of $84.98.

Exxon Mobil Corporation (NYSE XOM) opened at 78.21 on Monday. The company has a market cap of $331.38 billion, a PE ratio of 28.19 and a beta of 0.81. Exxon Mobil Corporation has a 52-week low of $78.20 and a 52-week high of $93.22. The firm’s 50 day moving average is $80.50 and its 200 day moving average is $81.75.

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Exxon Mobil Corporation (NYSE:XOM) last issued its earnings results on Friday, July 28th. The oil and gas company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.05. Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The business had revenue of $62.88 billion during the quarter, compared to analyst estimates of $61.35 billion. During the same quarter last year, the company earned $0.41 earnings per share. Exxon Mobil Corporation’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts forecast that Exxon Mobil Corporation will post $3.42 EPS for the current fiscal year.

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In other news, Director Steven Reinemund sold 1,100 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $80.23, for a total transaction of $88,253.00. Following the completion of the transaction, the director now owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Exxon Mobil Corporation during the fourth quarter worth about $3,306,084,000. State Street Corp raised its position in shares of Exxon Mobil Corporation by 7.9% in the first quarter. State Street Corp now owns 215,767,383 shares of the oil and gas company’s stock worth $17,695,085,000 after buying an additional 15,740,895 shares during the last quarter. Vanguard Group Inc. raised its stake in Exxon Mobil Corporation by 3.5% in the second quarter. Vanguard Group Inc. now owns 309,411,379 shares of the oil and gas company’s stock valued at $24,978,780,000 after buying an additional 10,366,636 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Exxon Mobil Corporation by 136,463.4% in the second quarter. First Eagle Investment Management LLC now owns 7,139,533 shares of the oil and gas company’s stock valued at $576,374,000 after buying an additional 7,134,305 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Exxon Mobil Corporation by 824.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,221,961 shares of the oil and gas company’s stock valued at $651,912,000 after buying an additional 6,440,709 shares in the last quarter. Institutional investors and hedge funds own 50.59% of the company’s stock.

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Exxon Mobil Corporation Company Profile

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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