Melius Begins Coverage on Exxon Mobil (NYSE:XOM)

Stock analysts at Melius assumed coverage on shares of Exxon Mobil (NYSE:XOM) in a research report issued on Wednesday, MarketBeat reports. The brokerage set a “hold” rating and a $111.00 price target on the oil and gas company’s stock. Melius’ target price points to a potential upside of 1.85% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Piper Sandler raised their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday. Wall Street Zen cut Exxon Mobil from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Mizuho decreased their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Morgan Stanley raised their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Exxon Mobil currently has a consensus rating of “Hold” and an average price target of $125.00.

Exxon Mobil Price Performance

NYSE XOM opened at $108.9850 on Wednesday. The business’s fifty day moving average price is $110.26 and its 200-day moving average price is $108.88. The stock has a market capitalization of $464.63 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil has a 1-year low of $97.80 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.14 EPS. On average, equities analysts predict that Exxon Mobil will post 7.43 earnings per share for the current year.

Institutional Investors Weigh In On Exxon Mobil

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP grew its position in shares of Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after purchasing an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC purchased a new position in shares of Exxon Mobil during the fourth quarter valued at about $55,000. Journey Strategic Wealth LLC grew its position in shares of Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock valued at $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Legacy Trust grew its position in shares of Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after purchasing an additional 997 shares in the last quarter. Finally, Hartford Funds Management Co LLC grew its position in shares of Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock valued at $912,000 after purchasing an additional 2,617 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

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.