HSBC Lowers Exxon Mobil (XOM) to Hold

Exxon Mobil (NYSE:XOM) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a report issued on Monday, MarketBeat Ratings reports. They currently have a $75.60 price target on the oil and gas company’s stock. HSBC’s price target would indicate a potential downside of 0.28% from the stock’s previous close.

Several other brokerages have also recently issued reports on XOM. Royal Bank of Canada set a $95.00 target price on Exxon Mobil and gave the stock a “buy” rating in a report on Friday, February 1st. Argus reaffirmed a “buy” rating on shares of Exxon Mobil in a report on Wednesday, February 6th. Bank of America set a $105.00 target price on Exxon Mobil and gave the stock a “buy” rating in a report on Thursday, March 7th. Morgan Stanley started coverage on Exxon Mobil in a report on Monday, April 1st. They issued an “equal weight” rating and a $84.00 target price on the stock. Finally, Zacks Investment Research raised Exxon Mobil from a “strong sell” rating to a “hold” rating in a report on Saturday, February 16th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $84.24.

Shares of Exxon Mobil stock opened at $75.81 on Monday. Exxon Mobil has a 52 week low of $64.65 and a 52 week high of $87.36. The stock has a market capitalization of $325.31 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.90. The company has a current ratio of 0.77, a quick ratio of 0.50 and a debt-to-equity ratio of 0.10.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.20). Exxon Mobil had a net margin of 6.49% and a return on equity of 9.63%. The business had revenue of $63.63 billion during the quarter, compared to analysts’ expectations of $67.35 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Exxon Mobil’s revenue was down 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Exxon Mobil will post 3.98 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. IBM Retirement Fund increased its stake in Exxon Mobil by 0.7% during the first quarter. IBM Retirement Fund now owns 70,482 shares of the oil and gas company’s stock worth $5,695,000 after acquiring an additional 513 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Exxon Mobil by 13.7% during the first quarter. Pinebridge Investments L.P. now owns 663,564 shares of the oil and gas company’s stock worth $53,616,000 after acquiring an additional 79,803 shares during the last quarter. Zhang Financial LLC bought a new stake in Exxon Mobil during the first quarter worth approximately $620,000. Geode Capital Management LLC increased its stake in Exxon Mobil by 8.9% during the first quarter. Geode Capital Management LLC now owns 56,860,401 shares of the oil and gas company’s stock worth $4,587,178,000 after acquiring an additional 4,664,609 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Exxon Mobil by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 25,702,786 shares of the oil and gas company’s stock worth $2,076,786,000 after acquiring an additional 547,607 shares during the last quarter. 54.63% of the stock is currently owned by institutional investors.

Exxon Mobil Company Profile

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Analyst Recommendations for Exxon Mobil (NYSE:XOM)

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