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

Jennison Associates LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 650.5% in the 4th quarter, Holdings Channel.com reports. The fund 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 hedge funds also recently modified their holdings of the company. Root Financial Partners LLC grew its holdings in shares of Exxon Mobil by 10.7% in the 4th quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 199 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Exxon Mobil by 83.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,269,030 shares of the oil and gas company’s stock worth $149,213,000 after purchasing an additional 575,649 shares during the period. Qsemble Capital Management LP grew its holdings in Exxon Mobil by 34.3% during the third quarter. Qsemble Capital Management LP now owns 4,700 shares of the oil and gas company’s stock worth $553,000 after purchasing an additional 1,200 shares during the period. RNC Capital Management LLC grew its holdings in Exxon Mobil by 5.5% during the fourth quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock worth $8,791,000 after purchasing an additional 4,585 shares during the period. Finally, Meyer Handelman Co. grew its holdings in Exxon Mobil by 5.9% during the third quarter. Meyer Handelman Co. now owns 390,975 shares of the oil and gas company’s stock worth $45,971,000 after purchasing an additional 21,895 shares during the period. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on XOM. Piper Sandler lifted their price target on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank lifted their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Barclays initiated coverage on shares of Exxon Mobil in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Exxon Mobil from $126.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, TD Cowen boosted their price objective on shares of Exxon Mobil from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.28.

Exxon Mobil Stock Performance

NYSE XOM opened at $121.05 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The stock has a market cap of $479.15 billion, a PE ratio of 13.62, a PEG ratio of 4.14 and a beta of 0.96. The firm’s fifty day moving average price is $112.29 and its two-hundred day moving average price is $106.41.

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

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were paid a $0.95 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $3.80 annualized dividend and a dividend yield of 3.14%. Exxon Mobil’s dividend payout ratio is 42.74%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,400 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were 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 in the company, valued at $3,169,845. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.03% of the stock is currently owned by 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.