The Goldman Sachs Group Raises Exxon Mobil (NYSE:XOM) Price Target to $120.00

Exxon Mobil (NYSE:XOM) had its target price upped by analysts at The Goldman Sachs Group from $118.00 to $120.00 in a research report issued to clients and investors on Thursday. The Goldman Sachs Group’s price target points to a potential upside of 2.28% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $129.00 to $145.00 in a report on Thursday, October 10th. Redburn Atlantic restated a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Morgan Stanley dropped their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus target price of $130.37.

Exxon Mobil Price Performance

XOM stock traded up $0.63 on Thursday, reaching $117.32. The company had a trading volume of 5,978,197 shares, compared to its average volume of 16,342,798. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The company’s fifty day moving average is $117.66 and its 200 day moving average is $116.39. The company has a market cap of $462.59 billion, a P/E ratio of 14.38, a PEG ratio of 5.00 and a beta of 0.89. Exxon Mobil has a 1 year low of $95.77 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter last year, the company earned $1.94 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Exxon Mobil will post 8.05 earnings per share for the current year.

Institutional Investors Weigh In On Exxon Mobil

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Exxon Mobil by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after buying an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp raised its position in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after acquiring an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after acquiring an additional 5,330,887 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Company Profile

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.