ExxonMobil Corporation $XOM Stock Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 203,807 shares of the oil and gas company’s stock after selling 6,718 shares during the quarter. ExxonMobil makes up 2.5% of Cullinan Associates Inc.’s investment portfolio, making the stock its 9th biggest position. Cullinan Associates Inc.’s holdings in ExxonMobil were worth $33,170,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock worth $4,812,790,000 after acquiring an additional 1,540,902 shares during the last quarter. Amundi increased its holdings in ExxonMobil by 5.1% in the 1st quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock valued at $4,158,563,000 after purchasing an additional 1,192,386 shares during the last quarter. GQG Partners LLC increased its holdings in ExxonMobil by 153.3% in the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after purchasing an additional 10,214,420 shares during the last quarter. Swiss National Bank increased its holdings in ExxonMobil by 5.9% in the 1st quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock valued at $2,099,783,000 after purchasing an additional 693,800 shares during the last quarter. Finally, National Pension Service raised its position in ExxonMobil by 1.8% in the second quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company’s stock valued at $1,321,265,000 after purchasing an additional 166,268 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

ExxonMobil Price Performance

ExxonMobil stock opened at $165.81 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $168.83 and a 200-day simple moving average of $155.41. The stock has a market cap of $676.38 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 0.82 and a beta of 0.16. ExxonMobil Corporation has a 12-month low of $114.19 and a 12-month high of $188.50.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The business had revenue of $110.50 billion during the quarter, compared to analysts’ expectations of $104.89 billion. During the same period in the prior year, the firm posted $1.88 EPS. Equities analysts expect that ExxonMobil Corporation will post 13.34 EPS for the current fiscal year.

ExxonMobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. ExxonMobil’s dividend payout ratio is currently 43.99%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

Analyst Upgrades and Downgrades

A number of research firms have commented on XOM. The Goldman Sachs Group restated a “neutral” rating and set a $178.00 price target on shares of ExxonMobil in a research note on Tuesday, October 20th. Zacks Research raised ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. BMO Capital Markets lifted their price objective on ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. HSBC reiterated a “hold” rating and issued a $90.00 price objective on shares of ExxonMobil in a report on Friday, September 25th. Finally, Bank of America lowered ExxonMobil from a “buy” rating to a “neutral” rating and increased their target price for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and a consensus target price of $170.38.

ExxonMobil Company Profile

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.

The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

ExxonMobil serves customers and operates in markets around the world.