Scotiabank analyst Paul Cheng maintains $Exxon Mobil (XOM.US)$ with a hold rating, and maintains the target price at $129.
According to TipRanks data, the analyst has a success rate of 47.1% and a total average return of 2.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Exxon Mobil (XOM.US)$'s main analysts recently are as follows:
Estimates for the integrated oil and exploration and production group have been adjusted to reflect a decrease in oil price forecasts. Despite the recent sector pullback, there is a belief that the potential rewards outweigh the risks for stocks, given that company fundamentals and operational momentum are considered robust.
The firm has updated its model for the Energy sector, including adjustments to estimates for the North American Oil and Gas group, U.S. refiners, and Canadian oilfield services companies. This revision comes after a notable drop in crude prices during September, with an expectation for prices to stabilize around recent levels throughout the remainder of the year.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
