Exxon Mobil Co. (NYSE:XOM) Position Lessened by Cullen Capital Management LLC

Cullen Capital Management LLC lowered its position in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,959,405 shares of the oil and gas company's stock after selling 58,508 shares during the quarter. Exxon Mobil accounts for 2.4% of Cullen Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Cullen Capital Management LLC's holdings in Exxon Mobil were worth $210,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Principal Financial Group Inc. grew its position in Exxon Mobil by 8.4% during the third quarter. Principal Financial Group Inc. now owns 6,709,202 shares of the oil and gas company's stock worth $786,453,000 after buying an additional 521,932 shares during the period. United Bank raised its holdings in Exxon Mobil by 3.7% during the third quarter. United Bank now owns 17,920 shares of the oil and gas company's stock worth $2,101,000 after purchasing an additional 641 shares during the last quarter. Janus Henderson Group PLC boosted its position in Exxon Mobil by 12.8% during the third quarter. Janus Henderson Group PLC now owns 577,032 shares of the oil and gas company's stock worth $67,631,000 after purchasing an additional 65,311 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its holdings in Exxon Mobil by 17.3% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 16,036 shares of the oil and gas company's stock valued at $1,880,000 after purchasing an additional 2,369 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Exxon Mobil during the 3rd quarter worth $28,084,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

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Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,100 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the transaction, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

Exxon Mobil Stock Down 1.6 %

NYSE XOM traded down $1.70 during trading hours on Monday, hitting $102.64. The company had a trading volume of 35,061,819 shares, compared to its average volume of 15,816,976. The firm's 50 day moving average is $111.16 and its 200 day moving average is $113.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. Exxon Mobil Co. has a fifty-two week low of $98.59 and a fifty-two week high of $126.34. The company has a market capitalization of $445.38 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 3.02 and a beta of 0.61.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same quarter in the previous year, the company posted $2.48 EPS. Sell-side analysts anticipate that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.99 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.86%. Exxon Mobil's dividend payout ratio (DPR) is 50.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. The Goldman Sachs Group reduced their target price on Exxon Mobil from $125.00 to $123.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Piper Sandler cut their price target on Exxon Mobil from $138.00 to $127.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. BMO Capital Markets decreased their price objective on Exxon Mobil from $130.00 to $123.00 and set a "market perform" rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on shares of Exxon Mobil from $136.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil currently has an average rating of "Moderate Buy" and an average target price of $128.20.

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.