Exxon Mobil (NYSE:XOM) Downgraded to “Sector Underperform” at Scotiabank

Scotiabank lowered shares of Exxon Mobil (NYSE:XOM) from a sector perform rating to a sector underperform rating in a research report report published on Thursday, BenzingaRatingsTable reports. The firm currently has $75.00 target price on the oil and gas company’s stock.

Several other research analysts have also recently commented on XOM. Credit Suisse Group reaffirmed a neutral rating and issued a $70.00 target price on shares of Exxon Mobil in a research report on Thursday, January 9th. Bank of America raised shares of Exxon Mobil to a buy rating in a report on Tuesday, January 7th. Piper Jaffray Companies initiated coverage on shares of Exxon Mobil in a report on Tuesday, November 26th. They issued a hold rating and a $83.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Exxon Mobil from $83.00 to $82.00 and set an equal weight rating for the company in a research note on Friday, October 4th. Finally, Berenberg Bank reaffirmed a neutral rating and set a $67.00 price objective on shares of Exxon Mobil in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $77.65.

NYSE:XOM traded down $0.45 during mid-day trading on Thursday, hitting $66.32. 18,236,397 shares of the company’s stock traded hands, compared to its average volume of 15,704,315. The firm has a 50 day moving average of $69.45 and a two-hundred day moving average of $70.41. Exxon Mobil has a 12 month low of $66.04 and a 12 month high of $83.49. The firm has a market capitalization of $284.29 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a current ratio of 0.78, a quick ratio of 0.50 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.04. Exxon Mobil had a return on equity of 7.45% and a net margin of 5.43%. The company had revenue of $65.05 billion during the quarter, compared to the consensus estimate of $65.86 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, equities research analysts expect that Exxon Mobil will post 2.42 earnings per share for the current year.

In other news, VP Liam M. Mallon sold 32,287 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $68.26, for a total value of $2,203,910.62. Following the completion of the transaction, the vice president now owns 211,289 shares in the company, valued at $14,422,587.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David S. Rosenthal sold 9,615 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $69.51, for a total transaction of $668,338.65. 0.05% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC increased its holdings in shares of Exxon Mobil by 35.0% in the third quarter. Marquette Asset Management LLC now owns 578 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Arlington Partners LLC acquired a new position in Exxon Mobil during the 3rd quarter valued at about $45,000. Quantum Capital Management acquired a new position in Exxon Mobil during the 3rd quarter valued at about $48,000. KCS Wealth Advisory bought a new stake in Exxon Mobil during the 3rd quarter worth approximately $62,000. Finally, Bourgeon Capital Management LLC bought a new stake in Exxon Mobil during the 3rd quarter worth approximately $69,000. 54.50% of the stock is owned by hedge funds and other institutional investors.

About Exxon Mobil

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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