Cullinan Associates Inc. Sells 15,408 Shares of ExxonMobil Corporation $XOM

Cullinan Associates Inc. decreased its holdings in ExxonMobil Corporation (NYSE:XOM) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,525 shares of the oil and gas company’s stock after selling 15,408 shares during the quarter. ExxonMobil accounts for approximately 2.2% of Cullinan Associates Inc.’s holdings, making the stock its 12th biggest position. Cullinan Associates Inc.’s holdings in ExxonMobil were worth $28,783,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. increased its holdings in ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after acquiring an additional 37,666 shares in the last quarter. Charles Schwab Trust Co lifted its holdings in ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock valued at $16,710,000 after purchasing an additional 97,424 shares in the last quarter. CV Advisors LLC boosted its position in shares of ExxonMobil by 126.7% in the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 6,478 shares during the period. Midwest Trust Co boosted its position in shares of ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after purchasing an additional 26,411 shares during the period. Finally, King Luther Capital Management Corp increased its stake in shares of ExxonMobil by 2.4% in the fourth quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock worth $200,366,000 after purchasing an additional 38,492 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several recent analyst reports. Wells Fargo & Company restated an “overweight” rating and set a $182.00 price objective on shares of ExxonMobil in a research report on Monday, August 3rd. Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Morgan Stanley upped their price objective on ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. HSBC set a $158.00 target price on ExxonMobil in a research report on Monday, August 3rd. Finally, Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $166.10.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

ExxonMobil Trading Up 0.3%

XOM stock opened at $156.88 on Friday. The firm has a fifty day moving average price of $150.53 and a 200 day moving average price of $151.87. ExxonMobil Corporation has a fifty-two week low of $108.35 and a fifty-two week high of $176.41. The firm has a market cap of $650.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter last year, the business earned $1.64 EPS. Sell-side analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil’s dividend payout ratio is 53.02%.

ExxonMobil 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.