Merrill Lynch Believes Exxon Mobil (XOM) Won’t Stop Here

Merrill Lynch analyst Doug Leggate reiterated a Buy rating on Exxon Mobil (XOM) today and set a price target of $81.00. The company’s shares closed last Friday at $54.37, close to its 52-week high of $57.25.

According to, Leggate is a 3-star analyst with an average return of 3.2% and a 50.0% success rate. Leggate covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Range Resources.

Exxon Mobil has an analyst consensus of Hold, with a price target consensus of $54.32, which is a -0.1% downside from current levels. In a report issued on February 22, J.P. Morgan also reiterated a Buy rating on the stock with a $59.00 price target.

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Based on Exxon Mobil’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $46.54 billion and GAAP net loss of $20.07 billion. In comparison, last year the company earned revenue of $63.02 billion and had a net profit of $5.69 billion.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XOM in relation to earlier this year.

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Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, TX.

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