Exxon Mobil (NYSE:XOM) Given New $70.00 Price Target at Truist

Exxon Mobil (NYSE:XOM) had its price target upped by Truist from $65.00 to $70.00 in a research report released on Friday, The Fly reports. Truist currently has a hold rating on the oil and gas company’s stock.

A number of other equities research analysts have also weighed in on XOM. Zacks Investment Research raised Exxon Mobil from a hold rating to a strong-buy rating and set a $82.00 target price for the company in a research note on Thursday. Wells Fargo & Company upped their target price on Exxon Mobil from $71.00 to $75.00 and gave the stock an overweight rating in a report on Monday, November 1st. BNP Paribas downgraded Exxon Mobil from a neutral rating to an underperform rating and set a $60.00 target price on the stock. in a report on Monday, October 11th. Jefferies Financial Group set a $59.00 target price on Exxon Mobil in a report on Wednesday, December 1st. Finally, Truist Financial upgraded Exxon Mobil from a sell rating to a hold rating and upped their target price for the stock from $50.00 to $65.00 in a report on Thursday, January 6th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $66.98.

NYSE:XOM opened at $71.87 on Friday. The firm has a market capitalization of $304.27 billion, a price-to-earnings ratio of -51.71, a P/E/G ratio of 0.80 and a beta of 1.36. Exxon Mobil has a 52-week low of $44.29 and a 52-week high of $72.14. The stock has a fifty day moving average of $63.45 and a 200 day moving average of $60.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.58 and a current ratio of 0.90.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The company had revenue of $73.79 billion during the quarter, compared to analyst estimates of $72.05 billion. Exxon Mobil had a positive return on equity of 8.66% and a negative net margin of 2.39%. The firm’s quarterly revenue was up 59.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) earnings per share. Equities analysts forecast that Exxon Mobil will post 5.07 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Friday, November 12th were given a $0.88 dividend. The ex-dividend date was Wednesday, November 10th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.87. This represents a $3.52 annualized dividend and a yield of 4.90%. Exxon Mobil’s dividend payout ratio is -253.24%.

In other news, VP Leonard M. Fox sold 7,300 shares of the stock in a transaction on Tuesday, December 14th. The stock was sold at an average price of $61.81, for a total transaction of $451,213.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis purchased 5,000 shares of the stock in a transaction dated Wednesday, November 3rd. The shares were purchased at an average cost of $64.00 per share, for a total transaction of $320,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 5,544 shares of company stock worth $352,640 and have sold 28,400 shares worth $1,771,158. 0.05% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of XOM. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Exxon Mobil by 12.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 783,537 shares of the oil and gas company’s stock worth $49,426,000 after buying an additional 89,467 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Exxon Mobil by 1.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 39,050 shares of the oil and gas company’s stock valued at $2,464,000 after purchasing an additional 650 shares in the last quarter. Greenleaf Trust grew its position in shares of Exxon Mobil by 20.5% during the second quarter. Greenleaf Trust now owns 43,156 shares of the oil and gas company’s stock valued at $2,722,000 after purchasing an additional 7,338 shares in the last quarter. Semmax Financial Advisors Inc. grew its position in shares of Exxon Mobil by 4.7% during the second quarter. Semmax Financial Advisors Inc. now owns 61,611 shares of the oil and gas company’s stock valued at $3,886,000 after purchasing an additional 2,760 shares in the last quarter. Finally, JustInvest LLC grew its position in shares of Exxon Mobil by 96.1% during the second quarter. JustInvest LLC now owns 64,636 shares of the oil and gas company’s stock valued at $4,077,000 after purchasing an additional 31,680 shares in the last quarter. Hedge funds and other institutional investors own 51.71% of the company’s stock.

Exxon Mobil Company Profile

Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.

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