It’s been a tough week for shares of Exxon Mobil Corporation (NYSE:XOM) as world oil prices have tumbled over the last couple of week. Over a two-week timeframe the stock dropped over 10% and investors clearly began to wonder when the bleeding would stop. Today seems to be that day, as the stock has moved up considerably along with the rest of the oil sector and crude prices have rebounded off an 11-year low. Will this be the end of the oil sell-off? We will have to wait and see, but it’s at least a much needed green day for Exxon Mobil Corporation (NYSE:XOM) and many other energy securities.
The stock is up 3.14% or $2.39 following the news, hitting $78.42 per share. About 6.86 million shares traded hands. XOM has declined 12.63% since May 12, 2015 and is downtrending. It has underperformed the S&P500 by 8.95%.
From a total of 13 analysts covering Exxon Mobil (NYSE:XOM) stock, 6 rate it a “Buy”, 3 a “Sell”, and 4 a “Hold”. This means that 46% of the ratings are positive. The highest target price is $100 while the lowest target price is $52. The mean of all analyst targets is $81.27 which is 3.63% above today’s ($78.42) stock price. Exxon Mobil was the topic of 22 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Credit Agricole initiated shares on December 15 with a “Outperform” rating. Barclays Capital upgraded XOM stock in a recent report from October 12 to a “Equal-Weight” rating. Finally, Vetr upgraded the stock to a “Buy” rating in a report they issued on an August 20.
The institutional sentiment increased to 1.11 in Q2 2015. It’s up 0.24, from 0.87 in 2015Q2. The ratio improved, as 82 funds sold all their Exxon Mobil Corporation shares they owned while 750 reduced their positions. 90 funds bought stakes while 831 increased their total positions. Institutions now own 2.05 billion shares which is 2.08% more than the previous share count of 2.01 billion in 2015Q2.
Salient Trust Co Lta holds 61.48% of its total portfolio in Exxon Mobil Corporation, equating to 4.89 million shares. Peddock Capital Advisors Llc owns 516,951 shares representing 35.03% of their total US portfolio. Moreover, Pinnacle Summer Investments Inc. has 22.98% of their total portfolio invested in the company, equating to 2.55 million shares. The Florida-based Huff W R Asset Management Co Llc De has a total of 19.64% of their portfolio invested in the stock. Adams Natural Resources Fund Inc., a Maryland-based fund reported 1.36 million shares owned.
Exxon Mobil Corporation is an energy company. The company has a market cap of $316.59 billion. The Firm is engaged in the exploration and production of natural gas and crude oil. It has 16.57 P/E ratio. The Firm is involved in the manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products.