Exxon Mobil Corporation (XOM) is Downgraded by BofA/Merrill to Neutral

Exxon Mobil Corporation (XOM) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Exxon Mobil Corporation. Exxon Mobil Corporation was Upgraded by Argus to ” Buy” on May 18, 2016. Company shares were Reiterated by UBS on May 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 85 from a previous price target of $77 .Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .

On the company’s financial health, Exxon Mobil Corporation reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.32. The company had revenue of $48707.00 million for the quarter, compared to analysts expectations of $50135.41 million. The company’s revenue was down -28.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.

Exxon Mobil Corporation opened for trading at $88.43 and hit $89.45 on the upside on Wednesday, eventually ending the session at $89.24, with a gain of 0.25% or 0.22 points. The heightened volatility saw the trading volume jump to 79,94,794 shares. Company has a market cap of $370,044 M.

In a different news, on Feb 18, 2016, Dennis G Wascom (Vice President) sold 5,326 shares at $81.75 per share price. According to the SEC, on Feb 10, 2016, Bradley W Corson (Vice President) sold 2,000 shares at $81.00 per share price. On Feb 8, 2016, James M Jr Spellings (Vice Pres. & Gen. Tax Counsel) sold 11,924 shares at $78.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas. The Company is involved in the manufacturing of petroleum products and transportation and sale of crude oil natural gas and petroleum products. The Company also manufactures and markets petrochemicals including olefins aromatics polyethylene and polypropylene plastics and a variety of specialty products. The Company’s projects include the Kearl project Heidelberg project the Point Thomson project the Hadrian South project the Lucius project the Chirag Oil project the Tapis Enhanced Oil Recovery project the Damar project and the Barzan project among others. The Company is conducting its operations and projects in the United States Asia Africa Canada/South America Europe and Australia/Oceania.

Exxon Mobil Corporation

Leave a Reply

Exxon Mobil Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Exxon Mobil Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.