Scotiabank Has Lowered Expectations for Exxon Mobil (NYSE:XOM) Stock Price

Exxon Mobil (NYSE:XOM) had its price objective decreased by analysts at Scotiabank from $140.00 to $115.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s target price would indicate a potential upside of 11.60% from the stock’s previous close.

A number of other equities analysts also recently issued reports on XOM. Morgan Stanley dropped their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. HSBC dropped their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research report on Monday, February 3rd. Finally, Barclays reduced their price target on Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.95.

Exxon Mobil Trading Up 3.1 %

Shares of XOM stock opened at $103.05 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. Exxon Mobil has a 12-month low of $97.80 and a 12-month high of $126.34. The stock has a market capitalization of $445.70 billion, a P/E ratio of 13.14, a P/E/G ratio of 3.02 and a beta of 0.61. The firm’s 50 day moving average is $110.33 and its 200 day moving average is $113.19.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period in the prior year, the business posted $2.48 earnings per share. Research analysts expect that Exxon Mobil will post 7.43 earnings per share for the current year.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the sale, the vice president now directly owns 18,087 shares of the company’s stock, valued at $1,989,570. This represents a 10.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Exxon Mobil

Several large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at about $6,936,737,000. GAMMA Investing LLC raised its position in Exxon Mobil by 14,242.7% during the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company’s stock valued at $1,124,787,000 after purchasing an additional 9,391,614 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Exxon Mobil by 14.4% in the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Exxon Mobil by 1,524.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock worth $585,818,000 after purchasing an additional 5,110,603 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Exxon Mobil by 16.3% during the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after purchasing an additional 4,415,012 shares during the last quarter. 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.