Boston, MA 08/15/2014 (wallstreetpr) – At least two brokerages have reiterated their rating on the shares of oil and gas exploration company, Exxon Mobile Corporation (NYSE:XOM) on Thursday. However, they have different views on the price target. While Credit Suisse has boosted its Price target, Argus had slashed its price objective on the company’s stock.
Price Tag
Investment advisor Credit Suisse had lifted its price target to $95 a share from $90 representing an increase of 5.6% from the previous price tag. However, compared to the Friday’s closing price of $99.09 during the normal trading session, the revised price target suggests downside risk of 4.1%.
On the other hand, Argus had cut its price tag on Exxon Mobile Corporation (NYSE:XOM) shares to $99.09 from $114.00, which meant that the brokerage had reduced its price objective by 13.1%. Compared to the current market price, there was no downside pressure.
Rating of Stock
However, both the brokerages were unanimous in reiterating their respective rating on the shares of Exxon Mobile Corporation (NYSE:XOM). For instance, Credit Suisse had reiterated its rating of Neutral on the company’s stock while Argus had maintained its rating of Buy on the company’s stock.
While nine analysts’ have preferred a Buy rating, seven analysts’ have kept the rating of Hold and four others believe the stock to be a fit one for sale. The consensus among the analysts’ is for Hold rating with a price objective of $102.09.
Dividend
The record date of August 13 was over for determining the purpose of eligible shareholders to get quarterly cash dividend of 69 cents a share, which was the same in the preceding quarter. Exxon Mobile Corporation (NYSE:XOM), which has been paying dividend for more than a decade now, had lifted its dividend for 31 straight years. The dividend would be paid on September 10.
The latest dividend provides yield of 2.8%, and the ten-year dividend yield was projected at 7.44%. While dividend payout ratio was 34%, it was 29% for the five-year period of average. The dividend growth rate for the 3-year and 5-year periods work out to 13.2% and 10.1% respectively.
