4 Energy Stock Stories Not To Be Missed on Tuesday
Exxon Mobil Corporation (NYSE:XOM): Current price $90.41
Analyst Robert Du Boff at Oppenheimer has downgraded Exxon Mobil from Outperform to Perform and removed its $100 price target. In a report, the analyst commented that ”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 $20 billion annual share repurchase program, a key value driver.”
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