Barclays Maintains an 'Equalweight' on ExxonMobil (XOM); 3Q Result Cushioned by Asset Sales, Prefer HES, IMO, and SU

Barclays maintains an 'Equalweight' on ExxonMobil (NYSE: XOM) price target raised $3 to $98.

Barclays analyst says, "Although stronger international E&P result propelled the company to meet consensus estimates, the earnings result benefited from a seemingly large asset sales gain (we had assumed no asset sales gains/losses) in the quarter. While management did not provide the exact level of asset sales gain, we estimate the gains may have totaled $400-$600 million in the quarter. On the other hand, international downstream was hurt by $300 million in FX losses and the chemicals result was adversely impacted by unfavorable tax adjustments."

Other stocks mentioned include: Hess Corp (NYSE: HES), Imperial Oil (NYSE: IMO) and Suncor (NYSE SU)

For more ratings news on ExxonMobil click here and for the rating history of ExxonMobil click here.

Shares of ExxonMobil closed at $81.88 yesterday.

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