Cullen Capital Management LLC Trims Stake in Exxon Mobil Corporation $XOM

Cullen Capital Management LLC cut its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,929,306 shares of the oil and gas company’s stock after selling 9,340 shares during the period. Exxon Mobil makes up 2.4% of Cullen Capital Management LLC’s portfolio, making the stock its 16th largest holding. Cullen Capital Management LLC’s holdings in Exxon Mobil were worth $207,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its position in Exxon Mobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 376 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of Exxon Mobil by 0.4% during the first quarter. Northwest & Ethical Investments L.P. now owns 65,455 shares of the oil and gas company’s stock valued at $7,785,000 after purchasing an additional 257 shares during the period. Cascade Financial Partners LLC grew its holdings in shares of Exxon Mobil by 12.5% in the first quarter. Cascade Financial Partners LLC now owns 2,800 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 311 shares during the last quarter. Algert Global LLC grew its stake in Exxon Mobil by 8.9% in the 1st quarter. Algert Global LLC now owns 23,269 shares of the oil and gas company’s stock worth $2,767,000 after acquiring an additional 1,895 shares in the last quarter. Finally, Versor Investments LP grew its stake in Exxon Mobil by 136.6% in the 1st quarter. Versor Investments LP now owns 10,100 shares of the oil and gas company’s stock worth $1,201,000 after acquiring an additional 5,831 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 3,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $118.75, for a total transaction of $356,250.00. Following the transaction, the vice president directly owned 31,584 shares of the company’s stock, valued at $3,750,600. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Down 0.9%

XOM stock opened at $117.75 on Tuesday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $120.81. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.12. The firm has a market cap of $496.55 billion, a P/E ratio of 17.11, a PEG ratio of 7.48 and a beta of 0.38. The company’s 50-day simple moving average is $115.67 and its 200-day simple moving average is $112.40.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The company had revenue of $57.55 billion for the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%. As a group, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is presently 59.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on XOM shares. Piper Sandler raised their price target on Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Melius Research initiated coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Mizuho boosted their price objective on shares of Exxon Mobil from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday. BNP Paribas Exane raised shares of Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $114.00 price objective on the stock in a report on Monday, December 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.45.

About Exxon Mobil

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.