Market Overview

UPDATE: Oppenheimer Downgrades Exxon Mobil to Perform, Says Current Buyback Unsustainable

Share:
Related XOM
Exxon Sues US Gov Over Sanctions Violation Fine From When Tillerson Was Oil Company CEO
Waste Of The World: Scientists Calculate How Much Plastic Civilization Has Spawned
Fed, FANGs, Autos, Defense, Eateries On Deck: Investing Action Plan (Investor's Business Daily)

In a report published by Oppenheimer, analyst Robert Du Boff downgraded Exxon Mobil (NYSE: XOM) from Outperform to Perform and removed its $100 price target.

In the report, Oppenheimer wrote, "XOM is challenged to maintain, not to mention grow, its production organically and to add oil & gas reserves competitively, and no discovery could be big enough to impact its valuation. XOM is among the most efficient energy companies, and further meaningful cost savings are unlikely. XOM has the highest P/E and P/CF multiples and lowest dividend yield among peers. But most importantly, even at higher oil and gas prices, XOM cannot maintain its $20B annual share repurchase program, a key value driver."

Shares of Exxon Mobil closed at $90.77 on Monday.

Latest Ratings for XOM

DateFirmActionFromTo
Jul 2017CitigroupMaintainsNeutral
Jul 2017BarclaysUpgradesEqual-WeightOverweight
Jun 2017Scotia Howard WeilUpgradesSector PerformSector Outperform

View More Analyst Ratings for XOM
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Analyst Ratings

 

Related Articles (XOM)

View Comments and Join the Discussion!