Cullinan Associates Inc. Increases Stake in Exxon Mobil Corporation $XOM

Cullinan Associates Inc. lifted its stake in Exxon Mobil Corporation (NYSE:XOM) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 262,966 shares of the oil and gas company’s stock after purchasing an additional 2,168 shares during the quarter. Exxon Mobil comprises about 1.9% of Cullinan Associates Inc.’s portfolio, making the stock its 11th largest holding. Cullinan Associates Inc.’s holdings in Exxon Mobil were worth $28,348,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of XOM. Bank of New York Mellon Corp raised its position in Exxon Mobil by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock worth $5,390,318,000 after buying an additional 1,340,343 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after purchasing an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after purchasing an additional 2,639,797 shares in the last quarter. Amundi increased its holdings in shares of Exxon Mobil by 9.7% during the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after purchasing an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Exxon Mobil by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after purchasing an additional 909,386 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Down 0.2%

NYSE XOM opened at $114.08 on Thursday. The firm’s 50-day moving average is $111.28 and its two-hundred day moving average is $109.54. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $124.26. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The stock has a market capitalization of $486.35 billion, a P/E ratio of 16.20, a PEG ratio of 2.07 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $81.51 billion for the quarter, compared to analysts’ expectations of $79.07 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. Exxon Mobil’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a dividend of $0.99 per share. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil’s dividend payout ratio is 56.25%.

Analyst Ratings Changes

XOM has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Melius Research began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a research note on Tuesday. Mizuho dropped their price target on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Finally, Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.79.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by company insiders.

Exxon Mobil Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.