Exxon Mobil (NYSE: XOM) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $100.00 target price on the stock.
The analysts wrote, “XOM is challenged to maintain, not to mention grow, its production organically and to add oil & gas reserves competitively, and no discovery could be big enough to impact its valuation. XOM is among the most efficient energy companies, and further meaningful cost savings are unlikely. XOM has the highest P/E and P/CF multiples and lowest dividend yield among peers. But most importantly, even at higher oil and gas prices, XOM cannot maintain its $20B annual share repurchase program, a key value driver.”
Shares of Exxon Mobil (NYSE: XOM) opened at 90.77 on Tuesday. Exxon Mobil has a one year low of $77.13 and a one year high of $93.67. The stock’s 50-day moving average is currently $89.10. The company has a market cap of $406.7 billion and a P/E ratio of 9.36.
Exxon Mobil (NYSE: XOM) last issued its quarterly earnings data on Friday, February 1st. The company reported $2.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.00 by $0.20. The company had revenue of $115.17 billion for the quarter, compared to the consensus estimate of $115.22 billion. During the same quarter last year, the company posted $1.97 earnings per share. Exxon Mobil’s revenue was down 5.3% compared to the same quarter last year. On average, analysts predict that Exxon Mobil will post $7.99 earnings per share for the current fiscal year.
A number of other firms have also recently commented on XOM. Analysts at Raymond James reiterated an “outperform” rating on shares of Exxon Mobil in a research note to investors on Thursday, March 28th. They now have a $96.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Exxon Mobil in a research note to investors on Tuesday, March 19th. Finally, analysts at Societe Generale reiterated a “buy” rating on shares of Exxon Mobil in a research note to investors on Thursday, March 7th. They now have a $103.00 price target on the stock.
Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $95.46.
Exxon Mobil Corporation (NYSE: XOM) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products.