U.S. energy behemoth
Exxon Mobil Corp.
) recently sued FX Networks LLC and its studio affiliates to bar
it from using an interlocking XX logo. The energy behemoth
alleges that the logo is identical to its own.
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Last month, FX Networks and its studio affiliates, Twentieth
Century Fox Film Corp. and
Twenty-First Century Fox Inc.
) launched the disputed FXX TV network logo. However, the
network's refusal to change it dragged the matter to court.
The news had little impact on Exxon Mobil's stock price. By close
of trade on Friday, Exxon Mobil settled at $86.32 per share,
approximately 1.0% higher that the previous day.
Exxon Mobil is the world's largest publicly traded oil company,
engaged in oil and natural gas exploration and production,
petroleum products refining and marketing, chemicals manufacture,
and other energy-related businesses. Approximately 83% of Exxon
Mobil's earnings come from its operations outside the U.S.
Exxon Mobil is one of the world's best-run integrated oil company
given its track record of superior returns on capital employed.
The energy giant has long been a core holding for investors
seeking a defensive name with continued dividend growth. Exxon
Mobil is fairly active in its investment program. The company
plans to spend about $185 billion over the next five years, up
29% from the last five-year period.
Capital expenditure covers as many as 21 important oil and gas
projects currently under the anvil and are estimated to
accumulate over 1 million net oil-equivalent barrels per day by
2016. It includes the Kearl Oil Sands development project in
Canada, four in West Africa and Kashagan Phase 1 in Kazakhstan.
Exxon is also engaged in a large liquefied natural gas project in
Papua New Guinea, which is expected to begin deliveries in 2014.
It will unearth more oil from the development of the Hebron oil
field, off the shore of Canadian provinces Newfoundland and
Labrador. The development will help in recovering over 700
million barrels of oil and the platform is expected to yield its
first oil toward the end of 2017.
Exxon Mobil holds a Zacks Rank #3 (Hold). However, in the near
term, stocks like
Swift Energy Co.
Pioneer Energy Services Corp.
), with Zacks Rank #1 (Strong Buy), are expected to outperform