Bank of America Securities analyst Doug Leggate reiterated a Buy rating on Exxon Mobil (XOM – Research Report) today and set a price target of $95.00. The company’s shares closed last Friday at $64.47, close to its 52-week high of $65.94.
According to TipRanks.com, Leggate is a 4-star analyst with an average return of 7.1% and a 52.5% success rate. Leggate covers the Utilities sector, focusing on stocks such as Continental Resources, Northern Oil And Gas, and Occidental Petroleum.
Currently, the analyst consensus on Exxon Mobil is a Hold with an average price target of $71.17, implying a 10.4% upside from current levels. In a report released today, Wells Fargo also maintained a Buy rating on the stock with a $75.00 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 $65.94 billion and net profit of $4.69 billion. In comparison, last year the company earned revenue of $32.28 billion and had a GAAP net loss of $1.08 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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