Cullen Capital Management LLC Has $203.99 Million Holdings in ExxonMobil Corporation $XOM

Cullen Capital Management LLC decreased its position in ExxonMobil Corporation (NYSE:XOM) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,492,052 shares of the oil and gas company’s stock after selling 7,561 shares during the quarter. ExxonMobil comprises approximately 2.0% of Cullen Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Cullen Capital Management LLC’s holdings in ExxonMobil were worth $203,993,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in XOM. Berbice Capital Management LLC acquired a new position in ExxonMobil in the 4th quarter valued at $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 187 shares during the period. Aventus Investment Advisors Inc. bought a new stake in shares of ExxonMobil in the second quarter valued at about $27,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of ExxonMobil in the fourth quarter valued at about $32,000. Institutional investors own 61.80% of the company’s stock.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon is expanding automated drilling across its Permian Basin operations and reportedly aims to automate about half of its rig fleet by 2028. The technology could improve safety, drilling efficiency and production growth while lowering operating costs. Focus: Exxon turns to automated drilling in the Permian in push for higher oil output
• Positive Sentiment: Exxon’s Guyana expansion remains a significant future cash-flow driver, with a new floating production, storage and offloading vessel nearing startup and additional long-term production growth expected. Is Guyana Becoming an Even Bigger Cash Flow Engine for ExxonMobil?
• Positive Sentiment: Exxon is reportedly considering an acquisition of some or all of Shell’s U.S. chemical assets, potentially valued at up to $8 billion. The deal could expand Exxon’s chemicals platform and create synergies, although no transaction has been announced. Shell draws interest from bidders including Exxon for $8 billion US chemical assets
• Neutral Sentiment: Exxon continues to develop its Proxxima materials business, including an approved expansion. The initiative adds a potential specialty-products growth avenue, but its financial contribution is still uncertain. ExxonMobil Just Approved an Expansion of a Material Most Investors Have Never Heard Of
• Negative Sentiment: Exxon temporarily halted crude offloading and operations at Guyana’s Liza Unity facility after a small fire aboard the floating vessel. The incident was reportedly limited, but investors may be concerned about near-term production disruption and operational risk. ExxonMobil temporarily halts operations at Guyana site after fire
• Negative Sentiment: Energy shares moved lower broadly during Monday’s session, creating sector-wide pressure on XOM independent of company-specific developments. Sector Update: Energy Stocks Decline Monday Afternoon
• Negative Sentiment: A potential Shell chemicals acquisition could require substantial capital and expose Exxon to weaker chemicals-market conditions, making the rumored deal a source of execution and valuation risk.

ExxonMobil Stock Performance

XOM opened at $163.90 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The firm has a market cap of $679.35 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 0.65 and a beta of 0.17. The business’s fifty day moving average is $149.04 and its 200-day moving average is $151.61.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the business earned $1.64 earnings per share. Sell-side analysts expect that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s dividend payout ratio (DPR) is currently 53.02%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Cowen raised their price target on shares of ExxonMobil from $155.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Mizuho decreased their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a report on Wednesday, July 8th. Finally, Bank of America downgraded shares of ExxonMobil from a “buy” rating to a “neutral” rating and lifted their price target for the company from $154.00 to $158.00 in a research report on Tuesday, July 28th. Ten analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, ExxonMobil currently has an average rating of “Hold” and a consensus target price of $166.10.

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.