Cullinan Associates Inc. trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,943 shares of the oil and gas company’s stock after selling 7,533 shares during the period. Exxon Mobil comprises 2.4% of Cullinan Associates Inc.’s investment portfolio, making the stock its 5th largest position. Cullinan Associates Inc.’s holdings in Exxon Mobil were worth $30,936,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Exxon Mobil by 1.2% in the 1st quarter. BlackRock Inc. now owns 260,822,111 shares of the oil and gas company’s stock worth $19,459,936,000 after purchasing an additional 2,982,610 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Exxon Mobil by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 55,508,146 shares of the oil and gas company’s stock valued at $4,642,701,000 after buying an additional 2,474,965 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Exxon Mobil by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 30,580,017 shares of the oil and gas company’s stock valued at $2,281,575,000 after buying an additional 1,200,678 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Exxon Mobil by 4.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 23,832,973 shares of the oil and gas company’s stock valued at $1,778,179,000 after buying an additional 1,116,450 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Exxon Mobil by 43.0% during the first quarter. First Eagle Investment Management LLC now owns 18,085,596 shares of the oil and gas company’s stock valued at $1,349,366,000 after buying an additional 5,440,412 shares during the period. 52.60% of the stock is currently owned by institutional investors.
NYSE XOM opened at $82.32 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.51 and a current ratio of 0.81. Exxon Mobil Co. has a twelve month low of $72.15 and a twelve month high of $89.30. The company has a market cap of $351.12 billion, a P/E ratio of 22.93, a PEG ratio of 1.40 and a beta of 0.86.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, July 27th. The oil and gas company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.34). Exxon Mobil had a net margin of 7.64% and a return on equity of 8.45%. The firm had revenue of $73.50 billion for the quarter, compared to the consensus estimate of $71.66 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. research analysts predict that Exxon Mobil Co. will post 4.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 13th were given a dividend of $0.82 per share. The ex-dividend date was Friday, August 10th. This represents a $3.28 annualized dividend and a dividend yield of 3.98%. Exxon Mobil’s dividend payout ratio is presently 91.36%.
Several equities analysts have recently issued reports on XOM shares. Societe Generale set a $92.00 target price on Exxon Mobil and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Royal Bank of Canada raised Exxon Mobil from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $72.16 to $100.00 in a research note on Wednesday, May 30th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a “neutral” rating and set a $88.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 10th. Jefferies Financial Group reissued a “neutral” rating and set a $87.00 target price on shares of Exxon Mobil in a research note on Wednesday, August 15th. Finally, HSBC reissued a “buy” rating and set a $96.00 target price on shares of Exxon Mobil in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Exxon Mobil currently has an average rating of “Hold” and a consensus target price of $87.66.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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