Cullen Frost Bankers Inc. Sells 196,903 Shares of Exxon Mobil Co. (NYSE:XOM)

Cullen Frost Bankers Inc. lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 30.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 440,202 shares of the oil and gas company’s stock after selling 196,903 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Exxon Mobil were worth $44,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC boosted its stake in shares of Exxon Mobil by 10.7% in the fourth quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 199 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Exxon Mobil by 83.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,269,030 shares of the oil and gas company’s stock valued at $149,213,000 after acquiring an additional 575,649 shares during the period. Qsemble Capital Management LP lifted its position in shares of Exxon Mobil by 34.3% during the 3rd quarter. Qsemble Capital Management LP now owns 4,700 shares of the oil and gas company’s stock valued at $553,000 after acquiring an additional 1,200 shares during the period. RNC Capital Management LLC grew its holdings in shares of Exxon Mobil by 5.5% during the 4th quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock worth $8,791,000 after purchasing an additional 4,585 shares in the last quarter. Finally, Dupree Financial Group LLC bought a new position in shares of Exxon Mobil in the fourth quarter worth $378,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

XOM traded down $0.53 on Tuesday, reaching $116.22. The stock had a trading volume of 30,112,328 shares, compared to its average volume of 18,825,762. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $458.26 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 4.03 and a beta of 0.96. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The firm has a 50-day moving average of $115.15 and a 200-day moving average of $106.95.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). The firm had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.83 earnings per share. As a group, sell-side analysts anticipate that Exxon Mobil Co. will post 9.61 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 14th. Exxon Mobil’s payout ratio is currently 46.57%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of Exxon Mobil stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now directly owns 30,189 shares of the company’s stock, valued at approximately $3,169,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the completion of the sale, the vice president now owns 30,189 shares of the company’s stock, valued at approximately $3,169,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now owns 25,363 shares in the company, valued at approximately $3,018,450.63. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on XOM shares. HSBC upped their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Redburn Atlantic upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and increased their price target for the stock from $116.00 to $119.00 in a research report on Tuesday, January 9th. Barclays began coverage on shares of Exxon Mobil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price objective on the stock. Truist Financial upped their target price on Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, UBS Group raised their target price on Exxon Mobil from $150.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average price target of $134.18.

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.