Cullinan Associates Inc. Sells 14,058 Shares of Exxon Mobil Co. (NYSE:XOM)

Cullinan Associates Inc. cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,718 shares of the oil and gas company’s stock after selling 14,058 shares during the period. Exxon Mobil comprises approximately 2.0% of Cullinan Associates Inc.’s investment portfolio, making the stock its 11th biggest position. Cullinan Associates Inc.’s holdings in Exxon Mobil were worth $36,184,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its stake in Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after buying an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA acquired a new stake in shares of Exxon Mobil in the 2nd quarter valued at approximately $980,210,000. International Assets Investment Management LLC grew its holdings in shares of Exxon Mobil by 7,761.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after purchasing an additional 6,805,982 shares during the last quarter. Capital International Investors increased its position in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Down 0.1 %

Shares of XOM stock opened at $119.49 on Friday. The company has a market capitalization of $471.15 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 5.00 and a beta of 0.89. The company has a 50-day simple moving average of $117.54 and a two-hundred day simple moving average of $116.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the company posted $1.94 EPS. Exxon Mobil’s revenue was up 12.2% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 8.05 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.18%. Exxon Mobil’s dividend payout ratio (DPR) is presently 45.45%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Truist Financial reduced their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Bank of America assumed coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Morgan Stanley reduced their price target on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Sanford C. Bernstein reduced their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.44.

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.