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Exxon Mobil (XOM) Received its Third Buy in a Row

After Goldman Sachs and Barclays gave Exxon Mobil (NYSE: XOM) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Devin McDermott maintained a Buy rating on Exxon Mobil today and set a price target of $106.00. The company’s shares closed last Tuesday at $88.13.

According to TipRanks.com, McDermott is a 5-star analyst with an average return of 8.4% and a 56.0% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Continental Resources, and Occidental Petroleum.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exxon Mobil with a $108.38 average price target, a 25.4% upside from current levels. In a report issued on July 6, Bank of America Securities also reiterated a Buy rating on the stock with a $128.00 price target.

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Exxon Mobil’s market cap is currently $362.8B and has a P/E ratio of 14.27.

Based on the recent corporate insider activity of 58 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.

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.

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