Exxon Mobil Corporation $XOM Shares Sold by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. reduced its stake in Exxon Mobil by 1.8% in the second quarter, owning 503,355 shares valued at $54.26 million after selling 9,163 shares.
• Exxon Mobil recently declared a quarterly dividend of $0.99 per share, resulting in an annualized dividend of $3.96 and a dividend yield of 3.5%.
• The company reported a quarterly revenue of $57.55 billion with an earnings per share (EPS) of $0.65 and a projected annual EPS of 7.43.

Cullen Frost Bankers Inc. lowered its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,355 shares of the oil and gas company's stock after selling 9,163 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Exxon Mobil were worth $54,262,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of XOM. Graybill Wealth Management LTD. acquired a new stake in Exxon Mobil in the first quarter worth about $29,000. Elequin Capital LP acquired a new stake in Exxon Mobil in the 1st quarter valued at about $31,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 238 shares during the last quarter. Game Plan Financial Advisors LLC lifted its holdings in Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Exxon Mobil in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Stock Performance

XOM stock opened at $114.64 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock has a market cap of $488.72 billion, a P/E ratio of 16.28, a P/E/G ratio of 2.02 and a beta of 0.51. The firm has a 50 day simple moving average of $112.24 and a 200 day simple moving average of $109.29. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $123.21.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is currently 56.25%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on XOM shares. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Exxon Mobil in a report on Wednesday, October 8th. Piper Sandler set a $141.00 price target on shares of Exxon Mobil in a report on Tuesday, October 7th. Barclays cut their price target on shares of Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Finally, Morgan Stanley upped their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.58.

Insider Activity at Exxon Mobil

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

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.

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