ExxonMobil Corporation $XOM Stock Sold by Cullinan Associates Inc.

Key Points

• Cullinan Associates cut its ExxonMobil stake by 3.2%, selling 6,718 shares in the third quarter; it retained 203,807 shares valued at about $33.17 million, making XOM its ninth-largest portfolio holding.
• Analyst views were mixed: the consensus rating was Hold with an average price target of $170.38, while UBS and Barclays raised targets and BNP Paribas Exane lowered its target.
• ExxonMobil beat quarterly earnings and revenue estimates, reporting EPS of $4.23 and revenue of $110.5 billion. It also raised its quarterly dividend from $1.03 to $1.07 per share.

Cullinan Associates Inc. lowered its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 203,807 shares of the oil and gas company's stock after selling 6,718 shares during the quarter. ExxonMobil accounts for about 2.5% of Cullinan Associates Inc.'s portfolio, making the stock its 9th biggest holding. Cullinan Associates Inc.'s holdings in ExxonMobil were worth $33,170,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CPA Asset Management Group LLC lifted its holdings in ExxonMobil by 1.8% during the third quarter. CPA Asset Management Group LLC now owns 3,450 shares of the oil and gas company's stock valued at $561,000 after purchasing an additional 60 shares in the last quarter. DecisionMap Wealth Management LLC increased its stake in shares of ExxonMobil by 2.2% during the third quarter. DecisionMap Wealth Management LLC now owns 2,915 shares of the oil and gas company's stock worth $474,000 after purchasing an additional 62 shares in the last quarter. WP Advisors LLC increased its stake in shares of ExxonMobil by 3.0% during the third quarter. WP Advisors LLC now owns 2,167 shares of the oil and gas company's stock worth $353,000 after purchasing an additional 63 shares in the last quarter. Avant Capital LLC raised its position in shares of ExxonMobil by 0.6% during the 2nd quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company's stock worth $1,529,000 after purchasing an additional 65 shares during the last quarter. Finally, Core Wealth Advisors Inc. raised its position in shares of ExxonMobil by 1.0% during the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company's stock worth $1,155,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

Analysts Set New Price Targets

A number of research analysts recently weighed in on XOM shares. UBS Group raised their price target on shares of ExxonMobil from $199.00 to $213.00 and gave the company a "buy" rating in a research note on Monday, November 2nd. BNP Paribas Exane cut their price objective on ExxonMobil from $165.00 to $155.00 and set a "neutral" rating for the company in a research note on Friday, July 17th. HSBC reiterated a "hold" rating and set a $90.00 price objective on shares of ExxonMobil in a research note on Friday, September 25th. Barclays increased their target price on ExxonMobil from $177.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, October 19th. Finally, William Blair began coverage on ExxonMobil in a research report on Wednesday, October 28th. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $170.38.

ExxonMobil Stock Up 0.3%

Shares of NYSE XOM opened at $165.81 on Friday. The company has a 50 day simple moving average of $168.83 and a 200-day simple moving average of $155.41. The company has a market capitalization of $676.38 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.82 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92. ExxonMobil Corporation has a 1 year low of $114.19 and a 1 year high of $188.50.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating analysts' consensus estimates of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The firm had revenue of $110.50 billion for the quarter, compared to analysts' expectations of $104.89 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. On average, equities research analysts predict that ExxonMobil Corporation will post 13.34 earnings per share for the current year.

ExxonMobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be given a $1.07 dividend. This is an increase from ExxonMobil's previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, November 16th. ExxonMobil's dividend payout ratio (DPR) is presently 43.99%.

About ExxonMobil

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.

The company's products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

ExxonMobil serves customers and operates in markets around the world.

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