BofA Securities analyst Doug Leggate reiterates a Buy rating, a price target of $140 on Exxon Mobil Corp (NYSE:XOM), and revised estimates following its fourth-quarter results.
Last week, the company reported an adjusted net profit of $9.96 billion, or $2.48 per share, down from $14.04 billion, or $3.40 per share, a year earlier, beating the consensus of $2.21.
Revenue and other income slipped to $84.34 billion from $95.43 billion and missed Wall Street’s estimate of $85.23 billion.
The analyst expects the project contribution to free cash flow to …
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