Exxon Mobil Corporation (NYSE:XOM) is a leading player in the oil and gas industry, known for its extensive operations in exploration, production, and refining. As a major energy company, Exxon Mobil competes with other industry giants like Chevron and BP. Recently, Devin McDermott from Morgan Stanley set a price target of $137 for XOM, suggesting a potential increase of 15.88% from its current price of $118.23.
The stock has shown positive movement, with a 1.8% increase during mid-day trading on Tuesday. This rise followed an upgrade by BNP Paribas, which changed its rating from a strong sell to a hold. The stock reached a high of $120.47 and was last traded at $118.10, indicating investor confidence in the company's prospects.
Trading volume for Exxon Mobil was notably high, with over 23.7 million shares exchanged, marking a 48% increase from the average session volume of approximately 16 million shares. This heightened activity reflects increased investor interest, possibly influenced by recent analyst upgrades and price target adjustments.
In recent analyst activities, Mizuho adjusted its target price for Exxon Mobil, lowering it from $124 to $123, while maintaining a neutral rating. Melius initiated coverage on Exxon Mobil, assigning a hold rating and a price target of $111. Additionally, BNP Paribas Exane upgraded Exxon Mobil from an underperform to a neutral rating, setting a price objective of $114.
Exxon Mobil's market capitalization stands at approximately $498.6 billion, highlighting its significant presence in the energy sector. The stock has fluctuated between a low of $116.89 and a high of $120.47 today, with a 52-week range of $97.80 to $120.81. These figures underscore the stock's volatility and potential for growth, as indicated by the recent price target set by Morgan Stanley.
