Cullinan Associates Inc. Trims Holdings in ExxonMobil Corporation $XOM

Cullinan Associates Inc. lessened its stake in ExxonMobil Corporation (NYSE:XOM) by 10.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 225,933 shares of the oil and gas company’s stock after selling 25,671 shares during the quarter. ExxonMobil makes up about 3.1% of Cullinan Associates Inc.’s investment portfolio, making the stock its 6th largest position. Cullinan Associates Inc.’s holdings in ExxonMobil were worth $38,332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares during the last quarter. Norges Bank bought a new stake in shares of ExxonMobil in the fourth quarter worth about $7,625,063,000. Bank of New York Mellon Corp lifted its position in shares of ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp boosted its stake in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after buying an additional 445,283 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

NYSE XOM opened at $144.50 on Thursday. The business’s 50 day moving average price is $145.73 and its 200-day moving average price is $146.11. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company has a market cap of $598.95 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Sell-side analysts predict that ExxonMobil Corporation will post 11.48 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on XOM shares. Mizuho reduced their price objective on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Bank of America raised shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 target price for the company in a report on Tuesday, June 16th. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Finally, Barclays boosted their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.45.

About ExxonMobil

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.