Morgan Stanley Raises Exxon Mobil (NYSE:XOM) Price Target to $103.00

Exxon Mobil (NYSE:XOMGet Rating) had its target price upped by analysts at Morgan Stanley from $95.00 to $103.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 17.25% from the company’s previous close.

Several other research analysts have also commented on the stock. Jefferies Financial Group set a $62.00 price target on shares of Exxon Mobil and gave the company a “neutral” rating in a report on Tuesday, February 1st. Wells Fargo & Company lifted their price objective on shares of Exxon Mobil from $93.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Cowen lifted their price objective on shares of Exxon Mobil from $71.00 to $77.00 and gave the company a “market perform” rating in a research report on Wednesday, February 23rd. Royal Bank of Canada upgraded shares of Exxon Mobil from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $90.00 to $100.00 in a research report on Thursday. Finally, Citigroup lifted their price objective on shares of Exxon Mobil from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, March 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil currently has an average rating of “Hold” and an average price target of $79.65.

Shares of XOM stock traded up $0.82 during mid-day trading on Friday, reaching $87.85. The company’s stock had a trading volume of 285,400 shares, compared to its average volume of 31,631,531. The company’s 50 day simple moving average is $82.28 and its 200-day simple moving average is $71.78. Exxon Mobil has a 12-month low of $52.10 and a 12-month high of $91.50. The company has a quick ratio of 0.71, a current ratio of 1.04 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $371.92 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.53 and a beta of 1.17.

Exxon Mobil (NYSE:XOMGet Rating) last issued its earnings results on Tuesday, February 1st. The oil and gas company reported $2.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.09. Exxon Mobil had a net margin of 8.07% and a return on equity of 13.67%. The business had revenue of $84.97 billion for the quarter, compared to the consensus estimate of $84.58 billion. During the same quarter last year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 82.6% compared to the same quarter last year. As a group, research analysts anticipate that Exxon Mobil will post 8.66 EPS for the current fiscal year.

Exxon Mobil declared that its board has authorized a stock repurchase program on Tuesday, February 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, VP Stephen A. Littleton sold 10,000 shares of Exxon Mobil stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $81.29, for a total value of $812,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Ubben sold 1,500,000 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $80.05, for a total transaction of $120,075,000.00. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. LCM Capital Management Inc grew its position in Exxon Mobil by 1.3% during the first quarter. LCM Capital Management Inc now owns 10,003 shares of the oil and gas company’s stock valued at $826,000 after purchasing an additional 124 shares in the last quarter. Investors Research Corp grew its position in Exxon Mobil by 1.6% during the first quarter. Investors Research Corp now owns 7,835 shares of the oil and gas company’s stock valued at $647,000 after purchasing an additional 125 shares in the last quarter. Moulton Wealth Management Inc. grew its position in Exxon Mobil by 1.0% during the first quarter. Moulton Wealth Management Inc. now owns 12,197 shares of the oil and gas company’s stock valued at $1,014,000 after purchasing an additional 126 shares in the last quarter. Roble Belko & Company Inc grew its position in Exxon Mobil by 2.4% during the fourth quarter. Roble Belko & Company Inc now owns 5,508 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 129 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC grew its position in Exxon Mobil by 0.8% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 17,330 shares of the oil and gas company’s stock valued at $1,060,000 after purchasing an additional 130 shares in the last quarter. 51.91% of the stock is currently owned by hedge funds and other institutional investors.

About Exxon Mobil (Get Rating)

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

Further Reading

Analyst Recommendations for Exxon Mobil (NYSE:XOM)

Receive News & Ratings for Exxon Mobil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exxon Mobil and related companies with MarketBeat.com's FREE daily email newsletter.