Lockheed Martin Investment Management Co. Sells 201,620 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Lockheed Martin Investment Management Co. reduced its position in Exxon Mobil by 37.6%, selling 201,620 shares during the first quarter, though it still retains 334,000 shares valued at approximately $39.7 million.
• Exxon Mobil's recent quarterly earnings showed a profit of $1.64 EPS, beating estimates, while revenue was down 12.4% year-over-year at $81.51 billion.
• The company announced a $0.99 quarterly dividend which will yield 3.7% annually and has a dividend payout ratio of 56.25%.

Lockheed Martin Investment Management Co. trimmed its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 37.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 334,000 shares of the oil and gas company's stock after selling 201,620 shares during the period. Exxon Mobil makes up approximately 1.6% of Lockheed Martin Investment Management Co.'s investment portfolio, making the stock its 16th largest holding. Lockheed Martin Investment Management Co.'s holdings in Exxon Mobil were worth $39,723,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of XOM. Manhattan West Asset Management LLC grew its stake in Exxon Mobil by 4.4% during the 4th quarter. Manhattan West Asset Management LLC now owns 18,580 shares of the oil and gas company's stock valued at $1,999,000 after acquiring an additional 785 shares in the last quarter. Qtron Investments LLC boosted its position in Exxon Mobil by 7.7% during the fourth quarter. Qtron Investments LLC now owns 43,810 shares of the oil and gas company's stock worth $4,713,000 after purchasing an additional 3,144 shares during the period. Nicolet Bankshares Inc. boosted its position in Exxon Mobil by 0.7% during the fourth quarter. Nicolet Bankshares Inc. now owns 25,427 shares of the oil and gas company's stock worth $2,735,000 after purchasing an additional 166 shares during the period. Crux Wealth Advisors acquired a new position in shares of Exxon Mobil during the fourth quarter worth approximately $989,000. Finally, Townsquare Capital LLC lifted its holdings in shares of Exxon Mobil by 5.6% during the fourth quarter. Townsquare Capital LLC now owns 264,023 shares of the oil and gas company's stock worth $28,401,000 after buying an additional 13,983 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 1.3%

NYSE:XOM traded up $1.40 during mid-day trading on Wednesday, hitting $107.53. The company had a trading volume of 17,950,244 shares, compared to its average volume of 16,798,379. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The business's fifty day moving average is $109.99 and its two-hundred day moving average is $108.92. 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 firm has a market cap of $458.43 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.99 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. Exxon Mobil's revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. As a group, research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Barclays restated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Mizuho lowered their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exxon Mobil presently has an average rating of "Hold" and an average target price of $125.26.

About Exxon Mobil

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.