Markets

Oppenheimer Lowers Estimates for Exxon Mobil (XOM)

Integrated oil behemoth Exxon Mobil Corporation ( XOM ) on Monday caught some negative commentary from analysts at Oppenheimer.

The firm said it lowered its earnings estimates for XOM through 2012, citing changes in oil and gas price futures. Still, Oppenheimer maintained its "Outperform" rating.

Exxon Mobil shares, which have risen more than 11% year-to-date, fell $1.04, or -1.3%, in premarket trading Monday.

The Bottom Line

Shares of Exxon Mobil ( XOM ) have a 2.31% dividend yield, based on Friday's closing stock price of $81.34. The stock has technical support in the $74-$75 price area. If the shares can firm up, we see overhead resistance around the $85 price level.

Exxon Mobil Corporation ( XOM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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