Cullinan Associates Inc. trimmed its stake in Exxon Mobil Co. (NYSE:XOM) by 2.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 373,943 shares of the oil and gas company’s stock after selling 7,533 shares during the quarter. Exxon Mobil comprises 2.4% of Cullinan Associates Inc.’s holdings, making the stock its 5th biggest position. Cullinan Associates Inc.’s holdings in Exxon Mobil were worth $30,936,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. X Square Capital LLC increased its position in Exxon Mobil by 16.8% during the first quarter. X Square Capital LLC now owns 4,544 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 653 shares during the last quarter. We Are One Seven LLC increased its position in Exxon Mobil by 3.8% during the first quarter. We Are One Seven LLC now owns 18,385 shares of the oil and gas company’s stock valued at $1,372,000 after acquiring an additional 671 shares during the last quarter. Lakeview Capital Partners LLC increased its position in Exxon Mobil by 3.5% during the first quarter. Lakeview Capital Partners LLC now owns 20,095 shares of the oil and gas company’s stock valued at $1,499,000 after acquiring an additional 677 shares during the last quarter. Shelton Capital Management increased its position in Exxon Mobil by 0.3% during the fourth quarter. Shelton Capital Management now owns 217,936 shares of the oil and gas company’s stock valued at $18,228,000 after acquiring an additional 685 shares during the last quarter. Finally, Hanson McClain Inc. increased its position in Exxon Mobil by 2.5% during the first quarter. Hanson McClain Inc. now owns 28,543 shares of the oil and gas company’s stock valued at $2,130,000 after acquiring an additional 686 shares during the last quarter. 52.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of XOM opened at $82.32 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.51. The stock has a market capitalization of $351.12 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.40 and a beta of 0.86. Exxon Mobil Co. has a 52 week low of $72.15 and a 52 week high of $89.30.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 27th. The oil and gas company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.34). The company had revenue of $73.50 billion during the quarter, compared to analysts’ expectations of $71.66 billion. Exxon Mobil had a return on equity of 8.45% and a net margin of 7.64%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. research analysts anticipate that Exxon Mobil Co. will post 4.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Monday, August 13th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Friday, August 10th. Exxon Mobil’s payout ratio is 91.36%.

A number of analysts recently commented on XOM shares. Societe Generale set a $92.00 price objective on Exxon Mobil and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Royal Bank of Canada upgraded Exxon Mobil from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $72.16 to $100.00 in a research report on Wednesday, May 30th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $88.00 price objective on shares of Exxon Mobil in a research report on Tuesday, July 10th. Jefferies Financial Group reiterated a “neutral” rating and set a $87.00 price objective on shares of Exxon Mobil in a research report on Wednesday, August 15th. Finally, HSBC reiterated a “buy” rating and set a $96.00 price objective on shares of Exxon Mobil in a research report on Wednesday. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Exxon Mobil presently has a consensus rating of “Hold” and an average price target of $87.66.

Exxon Mobil Profile

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.

See Also: Closed-End Mutual Funds (CEFs)

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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