Exxon Mobil (XOM) Gets a Buy Rating from Merrill Lynch

By Austin Angelo

In a report released yesterday, Doug Leggate from Merrill Lynch maintained a Buy rating on Exxon Mobil (XOMResearch Report), with a price target of $90.00. The company’s shares closed last Friday at $57.24.

According to TipRanks.com, Leggate is a 3-star analyst with an average return of 4.9% and a 49.8% success rate. Leggate covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Southwestern Energy.

Currently, the analyst consensus on Exxon Mobil is a Moderate Buy with an average price target of $62.85, a 7.7% upside from current levels. In a report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $74.00 price target.

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Exxon Mobil’s market cap is currently $242.3B and has a P/E ratio of -10.70. The company has a Price to Book ratio of 1.52.

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

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.