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Morgan Stanley Sticks to Its Buy Rating for Exxon Mobil (XOM)

Tipranks - Tipranks - Tue Aug 4, 7:50AM CDT

In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on Exxon Mobil, with a price target of $168.00.

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McDermott covers the Energy sector, focusing on stocks such as Devon Energy, Chevron, and Comstock Resources. According to TipRanks, McDermott has an average return of 9.9% and a 58.63% success rate on recommended stocks.

In addition to Morgan Stanley, Exxon Mobil also received a Buy from Wells Fargo’s Sam Margolin in a report issued on July 31. However, today, HSBC maintained a Hold rating on Exxon Mobil (NYSE: XOM).

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Based on Exxon Mobil’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $114.53 billion and a net profit of $14.53 billion. In comparison, last year the company earned a revenue of $79.48 billion and had a net profit of $7.08 billion

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