BP's share price lifts on speculation of an Exxon Mobil takeover

Lucy Hill
March 12, 2017

Adams Diversified Equity Fund Inc. continued to hold its stake in shares of Exxon Mobil Corp. The stock appeared $93.06 above its 52-week highs and is down -2.40% for the last five trades.

Based on several research reports, Shares were Reiterated by HSBC Securities on Mar 8, 2017 to "Hold" and Lowered the Price Target to $ 85 from a previous price target of $90.Exxon Mobil Corporation was Upgraded by Credit Suisse to " Neutral" on Mar 2, 2017.

Exxon Mobil Corporation (NYSE:XOM) stock is presently standing at about $81.03 and lots of equity research firms seem to have a target price set on the stock.

Shares in oil major BP have risen today as speculation reemerges about takeover interest from Exxon Mobil, the world's largest listed oil company. They noted that the move was a valuation call. They now have a Dollars 83 price target on the stock. Finally, Zacks Investment Research cut shares of Exxon Mobil from a "hold" rating to a "sell" rating in a report on Thursday, February 9th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The average volume stands around 12.08 million shares. Also, VP Dennis G. Wascom sold 4,400 shares of the company's stock in a transaction on Tuesday, December 13th. The disclosure for this sale can be found here. Zurich Insurance Group Ltd FI now owns 686,776 shares of the company's stock worth $57,408,000 after buying an additional 47,224 shares in the last quarter. Ltd. raised its position in Exxon Mobil by 1.0% in the third quarter.

Marathon Petroleum Corporation (NYSE:MPC)
If we look at stock performance in last active day trading, we see that stock has moved fell -11.22% to end the day at $0.001. Investment Counsel ADV purchased a new position in Marathon Petroleum Corp during the third quarter worth about $105,000.

Shares in the FTSE 100-listed firm were up 4.01 per cent at 472.2p in late afternoon trading. Price T Rowe Associates Inc. Alpha Windward LLC increased its stake in Exxon Mobil by 0.3% in the third quarter. Recently, investment analysts covering the stock have updated the mean rating to 2.5. Tuttle Tactical Management LLC bought a new position in Exxon Mobil during the second quarter valued at $125,000. Legal & General Group Plc now owns 21,519,400 shares of the company's stock worth $2,016,466,000 after buying an additional 384,675 shares during the last quarter. The company's shares were closed at 42.03. The stock's 50 day moving average is $83.03 and its 200-day moving average is $86.04. The firm has a market cap of $338.40 billion, a PE ratio of 43.48 and a beta of 0.91.

(NYSE:XOM) last released its quarterly earnings data on Friday, October 28th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by $0.29. Analysts had expected Exxon Mobil Corporation (NYSE:XOM) to post net income of about $0.70 per share on $62,282.70M in revenue. The company's revenue was up 2.0% compared to the same quarter a year ago. Exxon Mobil Corp. The firm's quarterly revenue was down 12.9% compared to the same quarter previous year. For the next 5 years, Exxon Mobil Corporation is expecting Growth of 32.87% per annum, whereas in the past 5 years the growth was -25.18% per annum. Investors of record on Thursday, February 9th will be paid a $0.75 dividend. It has a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, November 8th. Exxon Mobil's payout ratio is 159.58%.

In October 2015, the three-member ICSID arbitration panel rejected Exxon Mobil's arguments that Venezuela's nationalization represented an illegal expropriation, but awarded them payment as "just compensation" under an global investment treaty. "(XOM) on Strength After Analyst Downgrade" was first posted by BBNS and is the sole property of of BBNS. If you are accessing this report on another publication, it was copied illegally and reposted in violation of USA & worldwide trademark & copyright legislation.

Exxon Mobil Corporation was founded in 1870 and is headquartered in Irving, Texas.

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