ExxonMobil Corporation $XOM Stake Reduced by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its position in ExxonMobil Corporation (NYSE:XOM) by 10.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 225,933 shares of the oil and gas company’s stock after selling 25,671 shares during the period. ExxonMobil accounts for 3.1% of Cullinan Associates Inc.’s portfolio, making the stock its 6th biggest position. Cullinan Associates Inc.’s holdings in ExxonMobil were worth $38,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after buying an additional 1,457,560 shares during the period. Norges Bank bought a new stake in ExxonMobil during the 4th quarter valued at $7,625,063,000. Bank of New York Mellon Corp boosted its position in ExxonMobil by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after acquiring an additional 531,362 shares in the last quarter. Northern Trust Corp increased its holdings in shares of ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after acquiring an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ExxonMobil by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after acquiring an additional 293,446 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Trading Down 0.4%

Shares of NYSE:XOM opened at $144.50 on Thursday. The business’s 50-day moving average is $145.73 and its 200 day moving average is $146.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The firm has a market capitalization of $598.95 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.59 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, research analysts predict that ExxonMobil Corporation will post 11.48 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is currently 69.48%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on XOM. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. Morgan Stanley reduced their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Bank of America raised shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective on the stock in a research report on Tuesday, June 16th. Finally, Wolfe Research lowered shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.45.

ExxonMobil Company Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.