Cullen Capital Management LLC Sells 502,360 Shares of Exxon Mobil Corporation (XOM)
Cullen Capital Management LLC trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM) by 70.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 209,355 shares of the oil and gas company’s stock after selling 502,360 shares during the period. Cullen Capital Management LLC’s holdings in Exxon Mobil were worth $16,901,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of XOM. Stonebridge Capital Management Inc. boosted its stake in Exxon Mobil by 4.5% during the first quarter. Stonebridge Capital Management Inc. now owns 108,534 shares of the oil and gas company’s stock worth $8,901,000 after buying an additional 4,648 shares during the period. Hennessy Advisors Inc. raised its holdings in Exxon Mobil by 28.0% in the first quarter. Hennessy Advisors Inc. now owns 138,160 shares of the oil and gas company’s stock valued at $11,331,000 after acquiring an additional 30,260 shares in the last quarter. Wedgewood Investors Inc. PA raised its holdings in Exxon Mobil by 0.4% in the first quarter. Wedgewood Investors Inc. PA now owns 24,147 shares of the oil and gas company’s stock valued at $1,980,000 after acquiring an additional 100 shares in the last quarter. Robinson Value Management Ltd. raised its holdings in Exxon Mobil by 1.2% in the first quarter. Robinson Value Management Ltd. now owns 18,783 shares of the oil and gas company’s stock valued at $1,540,000 after acquiring an additional 231 shares in the last quarter. Finally, Bank of Stockton raised its holdings in Exxon Mobil by 2.7% in the first quarter. Bank of Stockton now owns 11,445 shares of the oil and gas company’s stock valued at $938,000 after acquiring an additional 299 shares in the last quarter. Institutional investors and hedge funds own 51.18% of the company’s stock.
In other Exxon Mobil news, VP Robert Stuart Franklin sold 22,656 shares of Exxon Mobil stock in a transaction on Monday, September 18th. The stock was sold at an average price of $79.76, for a total value of $1,807,042.56. Following the completion of the transaction, the vice president now owns 231,572 shares in the company, valued at approximately $18,470,182.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Bradley W. Corson sold 19,500 shares of Exxon Mobil stock in a transaction on Monday, December 11th. The shares were sold at an average price of $83.01, for a total value of $1,618,695.00. Following the completion of the transaction, the vice president now owns 229,774 shares of the company’s stock, valued at approximately $19,073,539.74. The disclosure for this sale can be found here. Insiders have sold a total of 62,013 shares of company stock valued at $5,084,352 over the last ninety days. Company insiders own 0.08% of the company’s stock.
Exxon Mobil Corporation (NYSE:XOM) traded up $0.41 during trading hours on Wednesday, hitting $83.17. The company had a trading volume of 4,249,204 shares, compared to its average volume of 10,966,153. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.54. Exxon Mobil Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $93.22. The firm has a market cap of $350,660.00, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.74 and a beta of 0.82.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. Exxon Mobil had a return on equity of 8.21% and a net margin of 5.14%. The business had revenue of $66.17 billion during the quarter, compared to analyst estimates of $63.51 billion. During the same quarter last year, the company posted $0.63 EPS. analysts anticipate that Exxon Mobil Corporation will post 3.65 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 13th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, November 10th. Exxon Mobil’s dividend payout ratio (DPR) is presently 100.33%.
A number of research firms have weighed in on XOM. cut shares of Exxon Mobil from a “hold” rating to a “reduce” rating and cut their price objective for the stock from $83.60 to $77.00 in a report on Tuesday, November 7th. Goldman Sachs Group set a $86.00 target price on shares of Exxon Mobil and gave the stock a “neutral” rating in a research report on Tuesday, November 7th. Wells Fargo & Company set a $84.00 price objective on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Monday, October 30th. TheStreet upgraded shares of Exxon Mobil from a “c” rating to a “b-” rating in a research report on Friday, October 27th. Finally, UBS set a $83.00 price objective on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Monday, December 4th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $86.20.
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About Exxon Mobil
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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