Cullen Capital Management LLC Sells 7,561 Shares of ExxonMobil Corporation $XOM

Key Points

• Cullen Capital Management reduced its ExxonMobil stake by 0.5%, selling 7,561 shares in the second quarter. It still held 1.49 million shares valued at approximately $204 million, representing 2.0% of its portfolio.
• Institutional investors own 61.8% of ExxonMobil, while analysts maintain a consensus “Hold” rating with an average price target of $166.10. Recent targets range from $158 to $177.
• ExxonMobil reported quarterly revenue above expectations but narrowly missed EPS estimates, and pays a $1.03 quarterly dividend for a 2.5% annualized yield. Growth opportunities include automated drilling and Guyana expansion, though a fire-related shutdown at the Liza Unity facility presents a near-term operational risk.

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

Other hedge funds have also modified their holdings of the company. Impact Partnership Wealth LLC raised its holdings in shares of ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company's stock valued at $2,039,000 after purchasing an additional 67 shares during the last quarter. Cardinal Strategic Wealth Guidance boosted its holdings in ExxonMobil by 1.9% during the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company's stock worth $631,000 after purchasing an additional 68 shares during the last quarter. Core Wealth Advisors Inc. grew its position in ExxonMobil by 1.0% in the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company's stock valued at $1,155,000 after purchasing an additional 68 shares in the last quarter. ICW Investment Advisors LLC grew its position in ExxonMobil by 0.3% in the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company's stock valued at $3,043,000 after purchasing an additional 69 shares in the last quarter. Finally, Swisher Financial Concepts Inc. increased its stake in ExxonMobil by 0.3% in the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company's stock valued at $4,649,000 after buying an additional 69 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XOM. Weiss Ratings raised shares of ExxonMobil from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. TD Cowen lifted their target price on ExxonMobil from $155.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, August 7th. HSBC set a $158.00 target price on ExxonMobil in a report on Monday, August 3rd. Zacks Research cut ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Barclays decreased their price target on ExxonMobil from $182.00 to $177.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $166.10.

ExxonMobil News Summary

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

Shares of XOM opened at $163.90 on Tuesday. The firm has a 50-day moving average of $149.04 and a 200-day moving average of $151.61. ExxonMobil Corporation has a one year low of $108.35 and a one year high of $176.41. The company has a market cap of $679.35 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 0.65 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.5%. ExxonMobil's dividend payout ratio is currently 53.02%.

ExxonMobil Company Profile

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.

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