Exxon Mobil Corporation (NYSE:XOM) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,518 shares of the oil and gas company's stock after selling 16,792 shares during the period. Exxon Mobil comprises 0.9% of Cullen Frost Bankers Inc.'s investment portfolio, making the stock its 28th biggest position. Cullen Frost Bankers Inc.'s holdings in Exxon Mobil were worth $60,954,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of XOM. 10Elms LLP purchased a new position in Exxon Mobil in the 4th quarter valued at approximately $25,000. Graybill Wealth Management LTD. purchased a new position in Exxon Mobil during the first quarter worth $29,000. Capital A Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth $32,000. Cloud Capital Management LLC purchased a new position in Exxon Mobil during the first quarter worth $45,000. Finally, Clarity Asset Management Inc. increased its position in Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after buying an additional 100 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on XOM shares. UBS Group lowered their price objective on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Mizuho lowered their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley reiterated an "overweight" rating on shares of Exxon Mobil in a report on Tuesday. Piper Sandler lifted their target price on Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and a consensus price target of $126.05.

Exxon Mobil Stock Performance

Shares of NYSE XOM traded down $0.50 during midday trading on Thursday, hitting $111.73. 13,149,953 shares of the company's stock were exchanged, compared to its average volume of 15,784,483. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90. The stock's 50 day moving average price is $108.54 and its 200-day moving average price is $108.91. The firm has a market cap of $481.51 billion, a P/E ratio of 14.82, a PEG ratio of 2.09 and a beta of 0.50. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 earnings per share. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.54%. Exxon Mobil's dividend payout ratio (DPR) is 52.52%.

Exxon Mobil Company 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.