Exxon Mobil (NYSE:XOM)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Friday, Stock Ratings Network.com reports. They currently have a $98.00 target price on the stock. Zacks‘s price target would suggest a potential upside of 4.52% from the stock’s previous close.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on ExxonMobil following its fourth-quarter 2013 release. The world’s largest publicly traded energy company reported better-than-expected earnings on the back of higher natural gas prices. However, ExxonMobil’s performance was muted due to lower revenues and sharply lower refining margins. Additionally, due to its integrated functions, Exxon is susceptible to downside risk from any weakness in the global economy. However, we believe that 2014 will look better, with the commencement of Kearl in Canada, the purchase of Bakken acreage from Denbury and the acquisition of Celtic Exploration. Moreover, Exxon is one of the best run integrated oil companies in the world, given its track record of superior return on capital employed. Therefore, we believe XOM is a core holding for investors seeking a defensive name with continued dividend growth. “
In other Exxon Mobil news, VP S Jack Balagia unloaded 3,995 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $96.30, for a total transaction of $384,718.50. Following the completion of the transaction, the vice president now directly owns 166,222 shares of the company’s stock, valued at approximately $16,007,179. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Exxon Mobil in a research note on Thursday. They now have a $90.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Exxon Mobil in a research note on Thursday. They set a “neutral” rating on the stock. They noted that the move was a valuation call. Finally, analysts at Howard Weil cut their price target on shares of Exxon Mobil from $110.00 to $107.00 in a research note on Thursday. They now have a “sector outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Exxon Mobil has an average rating of “Hold” and a consensus price target of $100.31.
Exxon Mobil (NYSE:XOM) traded up 1.09% during mid-day trading on Friday, hitting $94.78. The stock had a trading volume of 5,984,058 shares. Exxon Mobil has a 1-year low of $84.79 and a 1-year high of $101.74. The stock’s 50-day moving average is $94.22 and its 200-day moving average is $92.38. The company has a market cap of $409.6 billion and a P/E ratio of 12.72.
Exxon Mobil (NYSE:XOM) last released its earnings data on Thursday, January 30th. The company reported $1.91 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.91. Analysts expect that Exxon Mobil will post $7.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Thursday, February 6th.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products.
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