Redburn Partners Downgrades Exxon Mobil (NYSE:XOM) to Sell

Exxon Mobil (NYSE:XOM – Get Rating) was downgraded by analysts at Redburn Partners from a “neutral” rating to a “sell” rating in a note issued to investors on Wednesday, MarketBeat reports.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler lowered their target price on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Mizuho upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $140.00 in a report on Tuesday, January 10th. Truist Financial raised their price objective on Exxon Mobil from $111.00 to $114.00 in a report on Monday, October 31st. Cowen raised their price objective on Exxon Mobil to $108.00 in a report on Friday, November 4th. Finally, Citigroup raised their price objective on Exxon Mobil from $98.00 to $110.00 in a report on Tuesday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.35.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $111.32 on Wednesday. The business’s fifty day moving average price is $109.57 and its two-hundred day moving average price is $100.41. The stock has a market cap of $458.45 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.34. Exxon Mobil has a one year low of $69.81 and a one year high of $114.66.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its earnings results on Friday, October 28th. The oil and gas company reported $4.45 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.57. The firm had revenue of $112.07 billion for the quarter, compared to analysts’ expectations of $102.96 billion. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. Exxon Mobil’s quarterly revenue was up 51.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. On average, analysts forecast that Exxon Mobil will post 13.87 EPS for the current fiscal year.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $105.00, for a total value of $262,500.00. Following the transaction, the vice president now directly owns 34,272 shares of the company’s stock, valued at $3,598,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Exxon Mobil

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in shares of Exxon Mobil by 14.9% during the second quarter. FMR LLC now owns 135,144,175 shares of the oil and gas company’s stock worth $11,573,746,000 after acquiring an additional 17,521,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Exxon Mobil by 94.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock worth $3,463,672,000 after acquiring an additional 19,230,872 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Exxon Mobil by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock worth $2,575,190,000 after acquiring an additional 560,517 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Exxon Mobil by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock worth $2,468,477,000 after acquiring an additional 3,094,957 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Exxon Mobil by 14.3% during the second quarter. Legal & General Group Plc now owns 25,040,531 shares of the oil and gas company’s stock worth $2,144,479,000 after acquiring an additional 3,131,617 shares during the last quarter. 57.49% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Company Profile

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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.