Exxon Mobil (NYSE:XOM) Receives “Buy” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their buy rating on shares of Exxon Mobil (NYSE:XOM) in a research note issued to investors on Tuesday, Price Targets.com reports. JPMorgan Chase & Co. currently has a $76.00 price target on the oil and gas company’s stock.

A number of other brokerages have also recently commented on XOM. Truist lifted their price objective on shares of Exxon Mobil from $60.00 to $64.00 in a research note on Monday, May 3rd. Exane BNP Paribas raised shares of Exxon Mobil from an underperform rating to a neutral rating and set a $45.50 price objective for the company in a research note on Monday, February 8th. Jefferies Financial Group reissued a neutral rating and issued a $55.00 price objective on shares of Exxon Mobil in a research note on Friday, April 30th. Royal Bank of Canada reissued a sell rating and issued a $60.00 price objective on shares of Exxon Mobil in a research note on Wednesday, June 2nd. Finally, Raymond James raised shares of Exxon Mobil from an underperform rating to a market perform rating in a research note on Wednesday, April 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $56.41.

XOM opened at $62.75 on Tuesday. The stock has a market capitalization of $265.65 billion, a PE ratio of -14.04, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company’s fifty day moving average is $58.72. Exxon Mobil has a fifty-two week low of $31.11 and a fifty-two week high of $64.02. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 0.28.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Thursday, April 29th. The oil and gas company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.06. The company had revenue of $59.15 billion during the quarter, compared to analysts’ expectations of $55.36 billion. Exxon Mobil had a negative net margin of 10.35% and a negative return on equity of 0.48%. Exxon Mobil’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted ($0.14) earnings per share. On average, analysts anticipate that Exxon Mobil will post 3.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Thursday, May 13th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, May 12th. This represents a $3.48 dividend on an annualized basis and a yield of 5.55%. Exxon Mobil’s payout ratio is -1,054.55%.

A number of institutional investors and hedge funds have recently made changes to their positions in XOM. OneAscent Wealth Management LLC purchased a new position in Exxon Mobil during the 4th quarter valued at about $412,000. Sage Mountain Advisors LLC purchased a new position in Exxon Mobil during the 4th quarter valued at about $203,000. First Trust Advisors LP increased its position in Exxon Mobil by 23.1% during the 4th quarter. First Trust Advisors LP now owns 484,921 shares of the oil and gas company’s stock valued at $19,988,000 after purchasing an additional 90,859 shares during the period. TCW Group Inc. increased its position in Exxon Mobil by 11.6% during the 4th quarter. TCW Group Inc. now owns 34,371 shares of the oil and gas company’s stock valued at $1,417,000 after purchasing an additional 3,575 shares during the period. Finally, Ieq Capital LLC increased its position in Exxon Mobil by 91.0% during the 4th quarter. Ieq Capital LLC now owns 14,166 shares of the oil and gas company’s stock valued at $584,000 after purchasing an additional 6,750 shares during the period. Institutional investors own 51.42% of the company’s stock.

Exxon Mobil Company Profile

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; and manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Analyst Recommendations for Exxon Mobil (NYSE:XOM)

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