J.P. Morgan Believes Exxon Mobil (XOM) Still Has Room to Grow

In a report released yesterday, Phil Gresh from J.P. Morgan maintained a Buy rating on Exxon Mobil (XOMResearch Report), with a price target of $107.00. The company’s shares closed last Friday at $85.25, close to its 52-week high of $91.51.

According to, Gresh is a 5-star analyst with an average return of 11.2% and a 70.8% success rate. Gresh covers the Utilities sector, focusing on stocks such as Par Pacific Holdings, Occidental Petroleum, and Marathon Petroleum.

Exxon Mobil has an analyst consensus of Moderate Buy, with a price target consensus of $91.74, representing a 4.1% upside. In a report released yesterday, CFRA also maintained a Buy rating on the stock.

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Exxon Mobil’s market cap is currently $360.2B and has a P/E ratio of 15.82.

Based on the recent corporate insider activity of 60 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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