Exxon Mobil Price Target Increased by Morgan Stanley to $134

Morgan Stanley has increased Exxon Mobil's price target to $134, maintaining an Overweight rating. The average target price for Exxon Mobil is $123.91, with a high estimate of $140.00 and a low estimate of $95.00. Exxon Mobil reported strong quarterly earnings of $7.7 billion, up 4% sequentially, and generated $13 billion in cash flow from operations. The company has achieved $12.7 billion in structural cost savings since 2019 and has a strong balance sheet with a 7% net debt to capital ratio.

Morgan Stanley has increased its price target for Exxon Mobil (NYSE:XOM) to $134, maintaining an Overweight rating. This move comes amidst a positive outlook for energy stocks, driven by predictions of higher crude oil prices and increased demand for natural gas. The average target price for Exxon Mobil stands at $123.91, with estimates ranging from $95.00 to $140.00 [2].

In its latest earnings report, Exxon Mobil reported strong quarterly earnings of $7.7 billion, up 4% sequentially. The company generated $13 billion in cash flow from operations, demonstrating robust financial performance. Exxon Mobil has achieved significant cost savings of $12.7 billion since 2019, contributing to its strong balance sheet. The company's net debt to capital ratio stands at 7%, indicating a healthy financial position [2].

The increase in Exxon Mobil's price target by Morgan Stanley reflects a positive outlook on the energy sector. Energy analyst Ben Cook predicts crude oil prices to reach $60 per barrel by year-end, with higher expectations for the following year. The natural gas market's strength, driven by increased energy demand from the AI sector, further supports the positive outlook for Exxon Mobil. The company's market capitalization is approximately $489.1 billion, highlighting its substantial presence in the energy market [2].

Exxon Mobil's stock price has shown resilience, trading between $113.33 and $115.23 today, despite a slight decrease of 0.38% from its previous close. Over the past year, the stock has seen a high of $126.34 and a low of $97.80. With a trading volume of 988,720 shares on the NYSE, Exxon Mobil remains an active and significant player in the energy industry [2].

References:
[1] https://www.marketscreener.com/quote/stock/EXXON-MOBIL-CORPORATION-4822/news/Morgan-Stanley-Adjusts-Exxon-Mobil-Price-Target-to-134-From-133-Maintains-Overweight-Rating-50512981/
[2] https://site.financialmodelingprep.com/market-news/stock-article-for-68767655f02aa2a14cda9cc6