Morgan Stanley analyst Devin McDermott maintained a Hold rating on Exxon Mobil (XOM) today and set a price target of $44.00. The company’s shares closed last Monday at $34.12, close to its 52-week low of $30.11.
According to TipRanks.com, McDermott is a 1-star analyst with an average return of -2.8% and a 39.7% success rate. McDermott covers the Utilities sector, focusing on stocks such as Western Midstream Partners, Hess Midstream Partners, and Continental Resources.
The word on The Street in general, suggests a Hold analyst consensus rating for Exxon Mobil with a $43.75 average price target, implying a 28.3% upside from current levels. In a report issued on October 12, Goldman Sachs also upgraded the stock to Hold with a $36.00 price target.
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Based on Exxon Mobil’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $32.28 billion and GAAP net loss of $1.08 billion. In comparison, last year the company earned revenue of $67.49 billion and had a net profit of $3.13 billion.
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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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