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

Lockheed Martin Investment Management Co. increased its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 18.1% during the 4th quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Peoples Bank OH grew its position in ExxonMobil by 0.5% during the 4th quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company’s stock worth $1,804,000 after acquiring an additional 71 shares during the last quarter. Paulson Wealth Management Inc. grew its position in ExxonMobil by 1.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company’s stock worth $887,000 after acquiring an additional 72 shares during the last quarter. MOKAN Wealth Management Inc. grew its position in ExxonMobil by 1.3% during the 4th quarter. MOKAN Wealth Management Inc. now owns 5,903 shares of the oil and gas company’s stock worth $711,000 after acquiring an additional 77 shares during the last quarter. Field & Main Bank grew its position in ExxonMobil by 0.3% during the 4th quarter. Field & Main Bank now owns 23,393 shares of the oil and gas company’s stock worth $2,815,000 after acquiring an additional 78 shares during the last quarter. Finally, Capstone Wealth Management LLC grew its position in ExxonMobil by 3.1% during the 4th quarter. Capstone Wealth Management LLC now owns 2,606 shares of the oil and gas company’s stock worth $314,000 after acquiring an additional 79 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on XOM shares. Sanford C. Bernstein reduced their price target on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research report on Monday. UBS Group raised their price target on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Barclays raised their price target on ExxonMobil from $145.00 to $163.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Wells Fargo & Company raised their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Piper Sandler reduced their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.95.

ExxonMobil Trading Up 3.2%

NYSE XOM opened at $157.72 on Friday. ExxonMobil Corporation has a fifty-two week low of $101.18 and a fifty-two week high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a 50 day simple moving average of $155.05 and a two-hundred day simple moving average of $137.45. The stock has a market cap of $653.72 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 0.67 and a beta of 0.19.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter last year, the business posted $1.76 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that ExxonMobil Corporation will post 11.5 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

Key Stories Impacting ExxonMobil

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

Insiders Place Their Bets

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares in the company, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

About ExxonMobil

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.