Exxon Mobil Sees Upside Despite Target Price Decrease by Mizuho
Exxon Mobil, the well-known oil and gas company, recently had its target price reduced by equities researchers at Mizuho. According to a note issued to investors on Friday, the new target would suggest a potential upside of 22.91%, bringing Exxon Mobil’s current price up to $130.00 from $147.00 previously.
Despite this reduction in target price, Exxon Mobil recently posted impressive quarterly earnings results. For the quarter ending April 28th, the company reported an EPS of $2.83, beating the consensus estimate by $0.18. Although revenue was down 4.3% compared to the same quarter in the prior year, it still came in at an impressive $86.56 billion.
Notably, Exxon Mobil has a significant return on equity of 31.48% and a net margin of 15.06%. These metrics are positively indicative of strong financial performance and profitability – two essential factors for any successful business.
Indeed, Exxon Mobil’s strong results are likely due in part to its diverse operations across three segments: Upstream, Downstream and Chemical. The former primarily deals in crude oil and natural gas exploration and production while the latter manufactures and trades petroleum products.
While lower target prices may cause concern for some investors, it is vital to look beyond these short-term fluctuations when evaluating companies like Exxon Mobil with proven track records of long-term success.
In conclusion, despite Mizuho’s recent announcement of a decreased target price for Exxon Mobil stock, there is much reason for optimism regarding the company’s future prospects given their strong financials and diversified operations across multiple segments within the oil and gas industry.
XOM
Updated on: 21/05/2023
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Mixed Reviews for Exxon Mobil: Analyst Ratings and Institutional Investors
Exxon Mobil Corp (XOM) is a multinational oil, gas, and petroleum products company that engages in the exploration, development, and distribution of these resources. The company has been at the center of news with regards to its shares and activities in the recent past.
XOM’s share price movement has been interesting to watch as report after report by various equities analysts points towards conflicting recommendations. Although StockNews.com started coverage on shares of Exxon Mobil in a research note on Thursday with a “hold” rating for the company, Bank of America raised their price target on shares from $136.00 to $140.00 and gave it a “buy” rating in a research note dated Wednesday, February 1st. UBS Group also upgraded Exxon Mobil from a “neutral” rating to a “buy” rating while raising their price objective for the company from $125.00 to $144.00 in their own report released on Tuesday, April 18th.
Piper Sandler weighed in too by raising their target price on Exxon Mobil from $134.00 to $145.00, providing additional optimism for investors who are not sure which report to rely on. However, Goldman Sachs cut Exxon Mobil from a “buy” rating to a “neutral” rating and set an average price target of just $125.00 per stock.
Despite receiving such mixed reviews from analysts, data from Bloomberg shows that XOM currently still has an average consensus rating of “Moderate Buy” with an average price target of around $125.30.
Shares of XOM opened at $105.77 on Friday but had reached a 52-week low earlier this year at $80.69 before reaching its high point of around $119.92 recently; this provides signs that there could be potential growth ahead.
Institutional investors have also made some significant changes lately regarding their holdings in XOM; Stone House Investment Management LLC and Dark Forest Capital Management LP acquired new positions in shares of Exxon Mobil worth around $25,000 and $27,000 respectively. KB Financial Partners LLC also got a new position in the company worth about $27,000 while Corrado Advisors LLC bought a stake in XOM worth just short of $28,000. Finally, Clear Perspectives Financial Planning LLC raised its stake by 259.0% during the third quarter now owning 377 shares of the stock worth about $33,000.
In an unrelated event, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction that occurred on Monday, May 1st; this transaction was valued at around $290k and was disclosed in a filing with the SEC.
Despite these interesting occurrences surrounding XOM’s activities and its analyst recommendations’ divided nature whether to “sell,” “hold,” or “buy” XOM stock; it still remains an attractive investment option for investors looking towards oil and gas companies as it continues to engage worldwide oil operations.
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2023-05-22 01:11:58Z
CBMiSWh0dHBzOi8vYmVzdHN0b2Nrcy5jb20vZXh4b24tbW9iaWxzLXJlc2lsaWVuY2Utc2hpbmVzLXRocm91Z2gtZGVzcGl0ZS10YS_SAQA
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