Cullinan Associates Inc Lowers stake in Exxon Mobil Corporation (XOM)

Exxon Mobil Corporation (XOM) : Cullinan Associates Inc reduced its stake in Exxon Mobil Corporation by 2.75% during the most recent quarter end. The investment management company now holds a total of 500,106 shares of Exxon Mobil Corporation which is valued at $46,929,947 after selling 14,159 shares in Exxon Mobil Corporation , the firm said in a disclosure report filed with the SEC on Jul 1, 2016.Exxon Mobil Corporation makes up approximately 3.82% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including , Cacti Asset Management boosted its stake in XOM in the latest quarter, The investment management firm added 1,025 additional shares and now holds a total of 274,405 shares of Exxon Mobil Corporation which is valued at $25,750,165. Exxon Mobil Corporation makes up approx 2.79% of Cacti Asset Management’s portfolio.

Exxon Mobil Corporation opened for trading at $93.36 and hit $93.98 on the upside on Friday, eventually ending the session at $93.84, with a gain of 0.11% or 0.1 points. The heightened volatility saw the trading volume jump to 99,46,278 shares. Company has a market cap of $389,118 M.

On the company’s financial health, Exxon Mobil Corporation reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.32. The company had revenue of $48707.00 million for the quarter, compared to analysts expectations of $50135.41 million. The company’s revenue was down -28.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.

Many Wall Street Analysts have commented on Exxon Mobil Corporation. Exxon Mobil Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jun 2, 2016. Exxon Mobil Corporation was Upgraded by Argus to ” Buy” on May 18, 2016. Company shares were Reiterated by UBS on May 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 85 from a previous price target of $77 .

Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas. The Company is involved in the manufacturing of petroleum products and transportation and sale of crude oil natural gas and petroleum products. The Company also manufactures and markets petrochemicals including olefins aromatics polyethylene and polypropylene plastics and a variety of specialty products. The Company’s projects include the Kearl project Heidelberg project the Point Thomson project the Hadrian South project the Lucius project the Chirag Oil project the Tapis Enhanced Oil Recovery project the Damar project and the Barzan project among others. The Company is conducting its operations and projects in the United States Asia Africa Canada/South America Europe and Australia/Oceania.

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