Lockheed Martin Investment Management Co. Purchases 21,180 Shares of ExxonMobil Corporation $XOM

Key Points

• Lockheed Martin Investment Management Co. increased its ExxonMobil stake by 18.1% in the fourth quarter, buying 21,180 additional shares and bringing its holdings to 137,880 shares worth about $16.6 million.
• ExxonMobil’s latest quarterly earnings beat expectations, with EPS of $1.16 versus the $0.98 estimate and revenue of $83.16 billion, while the company also announced a $1.03 quarterly dividend payable June 10.
• Recent developments around the stock are broadly positive, including a Texas jury verdict clearing ExxonMobil in a long-running investor lawsuit and renewed drilling activity in Guyana, though some analysts have trimmed price targets and a few investors oppose the company’s planned move to Texas.

Lockheed Martin Investment Management Co. lifted its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 137,880 shares of the oil and gas company's stock after purchasing an additional 21,180 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in ExxonMobil were worth $16,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil during the 4th quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 187 shares during the period. Key Capital Management INC bought a new stake in shares of ExxonMobil during the 4th quarter valued at $28,000. Westfuller Advisors LLC bought a new stake in shares of ExxonMobil during the 3rd quarter valued at $30,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of ExxonMobil during the 4th quarter valued at $32,000. 61.80% of the stock is currently owned by institutional investors.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

Insider Activity

In other news, VP Darrin L. Talley sold 2,150 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the completion of the transaction, the vice president directly owned 18,204 shares in the company, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

ExxonMobil Price Performance

XOM opened at $157.72 on Friday. The stock has a 50-day moving average price of $155.05 and a 200-day moving average price of $137.45. ExxonMobil Corporation has a 12-month low of $101.18 and a 12-month high of $176.41. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $653.72 billion, a P/E ratio of 26.60, a PEG ratio of 0.67 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same period in the prior year, the business earned $1.76 EPS. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that ExxonMobil Corporation will post 11.5 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, May 15th. ExxonMobil's dividend payout ratio is presently 69.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on XOM. Morgan Stanley decreased their target price on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Jefferies Financial Group upped their target price on ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Citigroup upped their target price on ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. Finally, HSBC upped their target price on ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research note on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.95.

ExxonMobil Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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