Cullen Investment Group LTD. Increases Holdings in Exxon Mobil Corporation $XOM

Key Points

• Cullen Investment Group LTD. increased its holdings in Exxon Mobil Corporation by 9.3% during the second quarter, bringing their total shares to 104,777, valued at approximately $11.3 million.
• Exxon Mobil reported better-than-expected quarterly earnings with an EPS of $1.64, surpassing analysts' estimates of $1.47, despite a 12.4% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.99 per share, representing an annualized dividend yield of 3.5% and reflecting a payout ratio of 56.25%.

Cullen Investment Group LTD. lifted its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,777 shares of the oil and gas company's stock after purchasing an additional 8,909 shares during the quarter. Exxon Mobil comprises 1.6% of Cullen Investment Group LTD.'s holdings, making the stock its 14th largest position. Cullen Investment Group LTD.'s holdings in Exxon Mobil were worth $11,295,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Journey Strategic Wealth LLC raised its stake in shares of Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after purchasing an additional 1,379 shares during the last quarter. Legacy Trust raised its stake in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares during the last quarter. Hartford Funds Management Co LLC raised its stake in shares of Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares during the last quarter. Phoenix Financial Ltd. raised its position in Exxon Mobil by 23.9% during the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock valued at $11,561,000 after acquiring an additional 18,752 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in Exxon Mobil by 24.2% in the first quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company's stock valued at $4,605,000 after acquiring an additional 7,543 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 0.1%

Exxon Mobil stock opened at $112.21 on Friday. The stock has a market capitalization of $478.38 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The business has a 50 day simple moving average of $110.55 and a 200-day simple moving average of $109.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business's revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil's payout ratio is currently 56.25%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Melius Research assumed coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Bank of America boosted their price target on Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday. Morgan Stanley boosted their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $124.81.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.03% of the company's stock.

About Exxon Mobil

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.

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