Jennison Associates LLC Buys 1,616,417 Shares of Exxon Mobil Co. (NYSE:XOM)

Jennison Associates LLC lifted its holdings in Exxon Mobil Co. (NYSE:XOM) by 650.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,864,895 shares of the oil and gas company’s stock after purchasing an additional 1,616,417 shares during the quarter. Jennison Associates LLC’s holdings in Exxon Mobil were worth $186,452,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Exxon Mobil in the 3rd quarter worth $91,000. Authentikos Wealth Advisory LLC purchased a new position in Exxon Mobil in the 3rd quarter worth $92,000. Keener Financial Planning LLC purchased a new position in Exxon Mobil in the 4th quarter worth $80,000. Sumitomo Mitsui Financial Group Inc. raised its stake in Exxon Mobil by 851.6% in the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 885 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 792 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its stake in Exxon Mobil by 118.5% in the 3rd quarter. TFO Wealth Partners LLC now owns 968 shares of the oil and gas company’s stock worth $104,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Monday, February 5th. UBS Group lifted their price objective on Exxon Mobil from $133.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $116.00 to $119.00 in a research note on Tuesday, January 9th. Barclays began coverage on Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 price objective for the company. Finally, TD Cowen lifted their price objective on Exxon Mobil from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.28.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $121.05 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $112.29 and a 200 day moving average price of $106.41. The company has a market cap of $479.15 billion, a P/E ratio of 13.62, a PEG ratio of 4.14 and a beta of 0.96. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.28. The firm had revenue of $84.34 billion during the quarter, compared to the consensus estimate of $90.03 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The company’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.40 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 9.7 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Tuesday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is 42.74%.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the transaction, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Exxon Mobil Profile

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.