Exxon Mobil Co. (NYSE:XOM) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 21.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,517,141 shares of the oil and gas company’s stock after selling 403,189 shares during the quarter. Jennison Associates LLC’s holdings in Exxon Mobil were worth $177,839,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after acquiring an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA purchased a new stake in Exxon Mobil during the second quarter worth approximately $980,210,000. International Assets Investment Management LLC boosted its holdings in Exxon Mobil by 7,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after purchasing an additional 6,805,982 shares in the last quarter. Capital International Investors increased its stake in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Trading Down 1.4 %

Shares of XOM opened at $118.60 on Wednesday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $521.26 billion, a P/E ratio of 14.77, a PEG ratio of 5.00 and a beta of 0.90. The firm’s 50-day moving average is $118.75 and its two-hundred day moving average is $116.44.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the business posted $2.27 EPS. On average, research analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.34%. Exxon Mobil’s payout ratio is currently 49.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on XOM. TD Cowen lifted their price target on shares of Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research report on Monday, November 4th. BMO Capital Markets lifted their price target on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price objective on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Finally, Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $130.21.

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.