Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why These Five Stocks Are on the Move Today?

Page 1 of 2

Markets are trading lower on Friday following the recent sell-off in several tech  stocks amid the earnings season. Some important companies announced their financial results today, including Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), Phillips 66 (NYSE:PSX), Sanofi SA (ADR) (NYSE:SNY) and Shire PLC (ADR) (NASDAQ:SHPG). This article takes a closer look at the earnings reports of these companies and presents the hedge funds sentiment towards them.

At Insider Monkey, we track around 785 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year (see more details about our small-cap strategy).

Exxon Mobil’s Revenue Declines

Exxon Mobil Corporation (NYSE:XOM)’s stock opened in the red, but has managed to pare losses after the company announced its first-quarter results, which included a net income of $1.81 billion, or $0.43 a share, sharply down from $4.94 billion, or $1.17 per share, same quarter last year, but above analysts’ estimates of $0.31. In this way following a 63% annual slump, Exxon recorded the lowest quarterly profit since 1999. The company cited the plunging crude prices as the primary reason of the losses. The revenue declined to $48.71 billion from $67.6 billion reported a year earlier. Out of the total hedge funds tracked by Insider Monkey, 68 funds held long positions in Exxon Mobil Corporation (NYSE:XOM), with a total value of approximately $3 billion at the end of the last year. Ken Fisher’s Fisher Asset Management is notable of these stakeholders with an ownership of more than 4.53 million shares of the company reported as of the end of March.

Follow Exxon Mobil Corp (NYSE:XOM)
Trade (NYSE:XOM) Now!

Chevron Corporation Posts Huge Losses

Chevron Corporation (NYSE:CVX)’s stock is 1% in the red after the company reported mixed financial results. The company’s revenue of $23.55 billion, declined from $34.56 billion posted for the same quarter last year, but was higher than the estimates of $21.47 billion. Chevron also reported a loss of $725 million, or $0.39 per share, worse than the expected loss of $0.20 per share. At the end of last year, 44 hedge funds from our database owned shares of Chevron Corporation (NYSE:CVX). Ken Fisher’s Fisher Asset Management owns more than 3.6 million shares of the company, according to its last 13F filing.

Follow Chevron Corp (NYSE:CVX)
Trade (NYSE:CVX) Now!

Page 1 of 2
Loading Comments...