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Exxon (XOM) Stock Lower, Price Target Cut at Barclays

NEW YORK (TheStreet) -- Shares of Exxon Mobil (XOM) are down 2.12% to $87.06 in mid-morning trading on Monday after the stock's price target was cut to $100 from $102 with an "equal weight" rating at Barclays this morning.

Before Friday's market open, the oil and gas producer reported adjusted earnings that fell 59% year-over-year for the 2016 second quarter to 41 cents per share, missing analysts' projections of 64 cents per share. Revenue declined to $57.7 billion from $74.1 billion a year ago and fell short of analysts' estimates of $60.23 billion.

The firm...


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