Royal Bank of Canada Lowers Exxon Mobil (NYSE:XOM) Price Target to $115.00

Exxon Mobil (NYSE:XOM) had its price objective dropped by investment analysts at Royal Bank of Canada from $120.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective points to a potential downside of 3.18% from the company’s current price.

Several other equities analysts have also weighed in on XOM. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. BMO Capital Markets boosted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Mizuho increased their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, TD Cowen boosted their price target on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock traded down $1.19 during trading hours on Tuesday, hitting $118.78. 3,604,481 shares of the company’s stock traded hands, compared to its average volume of 16,251,022. The company has a fifty day simple moving average of $119.53 and a 200-day simple moving average of $116.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The stock has a market capitalization of $522.05 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 5.10 and a beta of 0.90. Exxon Mobil has a 12-month low of $95.77 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the previous year, the firm posted $2.27 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that Exxon Mobil will post 7.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Exxon Mobil

A number of large investors have recently added to or reduced their stakes in XOM. Massachusetts Financial Services Co. MA lifted its stake in Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA purchased a new position in shares of Exxon Mobil in the second quarter worth about $980,210,000. International Assets Investment Management LLC lifted its stake in shares of Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after acquiring an additional 6,805,982 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Exxon Mobil by 16.9% during 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 period. Finally, Legal & General Group Plc grew its position in 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 worth $3,719,296,000 after acquiring an additional 5,235,607 shares during the last quarter. Hedge funds and other 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.