Exxon Mobil Corporation (NYSE:XOM) registered a -1.24% decrease, still its new closing price is 24.85% up from the company’s 1 year high of 93.91.It posted 0.41% gains in previous 5 sessions and is now the subject of 13 analysts who together assign a hold rating on stock. 5 of Wall Street analysts have an underperform rating; the 2 sells versus 1 buy or better ratings. The 26 stock analysts following this company have an average price target at $89.22, with individual PT in the $73.00-$105.00 range. The shares moved at $86.28, implying that brokerage firms see shares gaining about 16.92% in twelve months time.
Exxon Mobil Corporation (XOM) SEC Form 4 News
The stock is getting much attention these days as insiders are offloading shares while they posted a -4.41% fall year to date. A Executive Officer at Exxon Mobil Corporation (XOM) offloaded shares in a transaction closed on Thursday December 15, 2016. Ortwein Sara N sold 5,000 shares in the company at $90.88 each and collected $454,000 in proceeds. Ortwein Sara N now owns 241,914 shares in the company after this transaction. A Vice President in the company, Wascom Dennis G, disclosed a transaction on Tuesday December 13, 2016 that ended up generating $404,001 from the sale of 4,400 shares at $92 per share.
Exxon Mobil Corporation (NYSE:XOM) Upcoming Results on Tap
Exxon Mobil Corporation will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $1.07 in that period. Sales during the quarter are predicted to arrive at $73.24 billion.
Earnings surprise history: Last quarter, the company posted approximately $58.68 billion in revenue and EPS of $0.63. The mean forecast was for $63.85 billion and $0.58 a share, respectively. One quarter earlier, revenue for the stock was at $57.69 billion, with earnings at $0.41/share.
Exxon Mobil Corporation (XOM) Brokerage Update
Exxon Mobil Corporation (XOM) is in Wells Fargo’s research list so their analyst rating change is noteworthy. These shares were downgraded to Market Perform from Outperform by Wells Fargo, according to news reported on Wednesday January 11, 2017.Another important research note was issued by Goldman on Monday October 31, 2016.The firm downgraded XOM to Neutral from Buy. Over the last six months and over the last three months, the shares of Exxon Mobil Corporation (XOM), have changed -7.07% and 0.58%, respectively.
On January 18, 2017, Synthetic Genomics, Inc. and Exxon Mobil Corporation (NYSE:XOM) announced that they have extended their agreement to conduct joint research into advanced algae biofuels after making significant progress in understanding algae genetics, growth characteristics and increasing oil production.
ExxonMobil and Synthetic Genomics have been jointly researching and developing oil from algae for use as a renewable, lower-emission alternative to traditional transportation fuels since launching the program in 2009. Work continues toward developing strains of algae that demonstrate significantly improved photosynthetic efficiency and oil production through selection and genetic engineering of higher-performance algae strains. The agreement continues to focus on Synthetic Genomics’ core strengths in synthetic biology and builds on recent discoveries of biological pathways regulating lipid production and growth in advanced algal strains.
The development of algae biofuels and a path toward commercial-scale production remain key components of ExxonMobil’s suite of research projects focused on producing energy to meet global demand while reducing greenhouse gas emissions to mitigate the risk of climate change.
ExxonMobil is engaged in a broad range of research on advanced biofuels, partnering with universities and other companies. The purpose of these research and development programs is to explore new technologies and seek the best pathways toward scalable and cost-effective production of advanced biofuels.
Global demand for transportation fuels is projected to rise by nearly 30 percent through 2040, and accelerating the reduction in emissions from the transportation sector will play a critical role in reducing global greenhouse gas emissions.