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Some Analysts Cut Target Price on ExxonMobil after 1Q18 Earnings

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May. 1 2018, Updated 11:40 a.m. ET

Analyst ratings for ExxonMobil

In this series, we examined ExxonMobil’s (XOM) segmental earnings in 1Q18. We also discussed ExxonMobil’s stock performance after its earnings release on April 27. In this part, we’ll evaluate analyst ratings for ExxonMobil after its earnings.

A total of 23 analysts currently give ratings on ExxonMobil. Of the total, eight analysts have assigned “buy” or “strong buy” ratings, 12 have assigned a “hold” rating, and three have assigned a “sell” or “strong sell” rating on the stock. XOM’s mean target price of $86 per share is around 10% higher than its current stock price.

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After 1Q results, Credit Suisse cut its target price on XOM, which could be because ExxonMobil’s earnings fell short of estimates, perhaps leading to a 4% decline in its stock price. Credit Suisse decreased XOM’s target price from $82 per share to $79 per share. Credit Suisse has a “neutral” rating on the stock. ExxonMobil might see a change in ratings and target prices in days to come as analysts look deeper at the 1Q18 numbers.

Peers’ analyst ratings

BP (BP), Chevron (CVX), and Royal Dutch Shell (RDS.A) have gotten “buy” recommendations from 50%, 77%, and 91% of analysts, respectively. Statoil (STO), Suncor Energy (SU), Petrobras (PBR), and YPF (YPF) have received “buy” ratings from 20%, 93%, 43%, and 92% of analysts, respectively.

In the next part, we’ll look at the change in implied volatility in ExxonMobil on its earnings release day. We’ll also estimate ExxonMobil’s stock price range for the seven days following its earnings.

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