Cullen Capital Management LLC Has $203.75 Million Stock Holdings in ExxonMobil Corporation $XOM

Cullen Capital Management LLC lessened its position in ExxonMobil Corporation (NYSE:XOM) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,693,138 shares of the oil and gas company’s stock after selling 218,973 shares during the quarter. ExxonMobil makes up about 2.2% of Cullen Capital Management LLC’s portfolio, making the stock its 16th biggest position. Cullen Capital Management LLC’s holdings in ExxonMobil were worth $203,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ICW Investment Advisors LLC boosted its position in ExxonMobil by 0.3% during the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares during the period. Peoples Bank OH boosted its position in ExxonMobil by 0.5% during the fourth quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company’s stock worth $1,804,000 after purchasing an additional 71 shares during the period. Paulson Wealth Management Inc. boosted its position in ExxonMobil by 1.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company’s stock worth $887,000 after purchasing an additional 72 shares during the period. Peirce Capital Management LLC lifted its holdings in shares of ExxonMobil by 1.7% in the fourth quarter. Peirce Capital Management LLC now owns 4,292 shares of the oil and gas company’s stock worth $516,000 after buying an additional 72 shares in the last quarter. Finally, Studio Investment Management LLC lifted its holdings in shares of ExxonMobil by 0.8% in the fourth quarter. Studio Investment Management LLC now owns 8,698 shares of the oil and gas company’s stock worth $1,047,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on XOM. UBS Group increased their price target on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Citigroup increased their price target on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Mizuho increased their price target on shares of ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, ExxonMobil has an average rating of “Hold” and an average target price of $165.55.

ExxonMobil Trading Up 0.1%

Shares of XOM opened at $146.80 on Friday. The firm’s 50 day simple moving average is $152.09 and its 200 day simple moving average is $142.36. The company has a market capitalization of $608.47 billion, a P/E ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. 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.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.76 earnings per share. Sell-side analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 1,080 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the sale, the vice president directly owned 17,124 shares of the company’s stock, valued at $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

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.