Exxon Mobil Corporation’s (XOM) “Buy” Rating Reiterated at Cowen and Company

Cowen and Company reiterated their buy rating on shares of Exxon Mobil Corporation (NYSE:XOM) in a research note published on Tuesday morning. Cowen and Company currently has a $100.00 price objective on the oil and gas company’s stock.

A number of other brokerages also recently weighed in on XOM. Vetr raised shares of Exxon Mobil Corporation from a buy rating to a strong-buy rating and set a $89.25 target price for the company in a research note on Monday, June 5th. Societe Generale set a $95.00 price target on shares of Exxon Mobil Corporation and gave the stock a buy rating in a research note on Friday, July 14th. Morgan Stanley set a $81.00 price target on shares of Exxon Mobil Corporation and gave the stock a sell rating in a research note on Tuesday, July 11th. Royal Bank Of Canada downgraded shares of Exxon Mobil Corporation from an outperform rating to a sector perform rating and dropped their price target for the stock from $96.00 to $95.00 in a research note on Thursday, July 6th. Finally, BMO Capital Markets boosted their price target on shares of Exxon Mobil Corporation from $76.00 to $80.00 and gave the stock a market perform rating in a research note on Wednesday, June 21st. Seven research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Exxon Mobil Corporation presently has a consensus rating of Hold and an average price target of $84.65.

Exxon Mobil Corporation (NYSE XOM) opened at 79.89 on Tuesday. The firm has a market cap of $338.50 billion, a price-to-earnings ratio of 28.80 and a beta of 0.82. Exxon Mobil Corporation has a 1-year low of $76.05 and a 1-year high of $93.22. The company’s 50 day moving average is $78.37 and its 200-day moving average is $80.77.

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

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The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Monday, August 14th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.86%. The ex-dividend date was Thursday, August 10th. Exxon Mobil Corporation’s payout ratio is 111.19%.

In related news, VP Robert Stuart Franklin sold 22,656 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $79.76, for a total transaction of $1,807,042.56. Following the completion of the transaction, the vice president now owns 231,572 shares in the company, valued at $18,470,182.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Reinemund sold 1,100 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the transaction, the director now owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Management Advisors LLC boosted its holdings in Exxon Mobil Corporation by 0.3% during the second quarter. Asset Management Advisors LLC now owns 2,515 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 7 shares during the last quarter. Cordasco Financial Network boosted its holdings in Exxon Mobil Corporation by 0.6% during the first quarter. Cordasco Financial Network now owns 2,332 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 15 shares during the last quarter. Horizon Investment Services LLC boosted its holdings in Exxon Mobil Corporation by 0.4% during the first quarter. Horizon Investment Services LLC now owns 4,787 shares of the oil and gas company’s stock worth $393,000 after purchasing an additional 20 shares during the last quarter. LifePlan Financial Group Inc boosted its holdings in Exxon Mobil Corporation by 0.5% during the first quarter. LifePlan Financial Group Inc now owns 4,514 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 24 shares during the last quarter. Finally, Jag Capital Management LLC boosted its holdings in Exxon Mobil Corporation by 0.5% during the second quarter. Jag Capital Management LLC now owns 5,635 shares of the oil and gas company’s stock worth $455,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 50.74% of the company’s stock.

About Exxon Mobil Corporation

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.

Analyst Recommendations for Exxon Mobil Corporation (NYSE:XOM)

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