Jennison Associates LLC Sells 403,189 Shares of Exxon Mobil Co. (NYSE:XOM)

Jennison Associates LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 21.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,517,141 shares of the oil and gas company's stock after selling 403,189 shares during the period. Jennison Associates LLC's holdings in Exxon Mobil were worth $177,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $35,000. Anfield Capital Management LLC lifted its position in Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil in the 2nd quarter worth approximately $39,000. POM Investment Strategies LLC increased its holdings in shares of Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company's stock worth $43,000 after buying an additional 340 shares during the last quarter. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of Exxon Mobil during the 2nd quarter valued at $46,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

XOM traded up $1.53 during mid-day trading on Wednesday, reaching $120.16. 6,197,963 shares of the company traded hands, compared to its average volume of 16,260,091. The stock has a market capitalization of $528.12 billion, a P/E ratio of 14.85, a P/E/G ratio of 5.00 and a beta of 0.90. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $126.34. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The company's fifty day moving average price is $118.75 and its 200-day moving average price is $116.44.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.01. The business 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%. The business's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 EPS. On average, sell-side analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.30%. 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. Exxon Mobil's payout ratio is currently 49.32%.

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Exxon Mobil from $135.00 to $136.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Scotiabank upgraded shares of Exxon Mobil from a "sector perform" rating to a "sector outperform" rating and increased their price target for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. TD Cowen boosted their price objective on shares of Exxon Mobil from $127.00 to $132.00 and gave the stock a "buy" rating in a report on Tuesday. Mizuho increased their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a "neutral" rating in a report on Monday, September 16th. Finally, Morgan Stanley lowered their price target on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $130.21.

Exxon Mobil Company 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.