Exxon Mobil (NYSE:XOM) Given New $121.00 Price Target at Truist Financial

Exxon Mobil (NYSE:XOM) had its price target reduced by research analysts at Truist Financial from $124.00 to $121.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Truist Financial’s target price would indicate a potential upside of 6.70% from the company’s previous close.

Several other brokerages have also commented on XOM. HSBC lifted their price objective on Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Mizuho increased their price objective on shares of Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Piper Sandler raised their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Wolfe Research assumed coverage on shares of Exxon Mobil in a report on Thursday, July 18th. They set an “outperform” rating and a $146.00 target price for the company. Finally, Scotiabank lifted their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $134.78.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $113.40 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The firm has a market cap of $447.14 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 4.44 and a beta of 0.91. The business has a 50-day simple moving average of $113.99 and a two-hundred day simple moving average of $111.26. Exxon Mobil has a fifty-two week low of $95.77 and a fifty-two week high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The company had revenue of $83.08 billion for the quarter, compared to analysts’ expectations of $79.69 billion. During the same period in the previous year, the firm earned $2.83 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Exxon Mobil will post 8.65 earnings per share for the current year.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,426 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the sale, the vice president now directly owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds and other institutional investors have recently modified their holdings of XOM. Etesian Wealth Advisors Inc. boosted its stake in Exxon Mobil by 5.4% during the fourth quarter. Etesian Wealth Advisors Inc. now owns 5,970 shares of the oil and gas company’s stock valued at $598,000 after buying an additional 305 shares during the last quarter. JTC Employer Solutions Trustee Ltd boosted its position in shares of Exxon Mobil by 390.3% during the 4th quarter. JTC Employer Solutions Trustee Ltd now owns 21,430 shares of the oil and gas company’s stock valued at $2,147,000 after acquiring an additional 17,059 shares during the last quarter. Strategic Wealth Investment Group LLC grew its holdings in shares of Exxon Mobil by 86.2% in the fourth quarter. Strategic Wealth Investment Group LLC now owns 4,657 shares of the oil and gas company’s stock valued at $466,000 after purchasing an additional 2,156 shares in the last quarter. Carlson Capital Management increased its position in Exxon Mobil by 2.3% in the fourth quarter. Carlson Capital Management now owns 17,005 shares of the oil and gas company’s stock worth $1,700,000 after purchasing an additional 382 shares during the last quarter. Finally, NovaPoint Capital LLC raised its stake in Exxon Mobil by 50.1% during the fourth quarter. NovaPoint Capital LLC now owns 6,621 shares of the oil and gas company’s stock valued at $662,000 after purchasing an additional 2,211 shares in 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.