5 Stocks Trending on Robinhood

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In this article, we discuss 5 stocks trending on Robinhood. If you want to check out some more stocks in this selection, click 10 Stocks Trending on Robinhood.

5. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

Exxon Mobil Corporation (NYSE:XOM), the American oil and gas multinational company, was one of the stocks trending on Robinhood as of late. On March 25, KBR, Inc. (NYSE:KBR) and Exxon Mobil Corporation (NYSE:XOM) announced plans to collaborate, bringing notable advancements to propane dehydrogenation technology. 

On March 9, Barclays analyst Jeanine Wai lifted the price target on Exxon Mobil Corporation (NYSE:XOM) to $98 from $91 and reiterated an Overweight rating on the shares. The analyst updated his model to account for the current gas prices and latest Permian production and capex assumptions. 

Among the hedge funds monitored by Insider Monkey as of Q4 2021, 71 funds were long Exxon Mobil Corporation (NYSE:XOM), compared to 64 funds in the last quarter. Rajiv Jain’s GQG Partners is the biggest shareholder of the company, with 32.3 million shares worth roughly $2 billion. 

Here is what First Eagle Investment Management has to say about Exxon Mobil Corporation (NYSE:XOM) in its Q2 2021 investor letter:

“Leading contributors in the First Eagle Global Fund this quarter included Exxon Mobil Corporation. The continued recovery in oil prices as economies reopen helped fuel another strong performance across the energy complex, including shares of Exxon Mobil. Exxon Mobil recently lost a proxy fight with an activist investor that took three of the company’s 12 board seats. While the press was focused on the investor’s concerns over Exxon Mobil’s long term energy transformation strategy, other factors fundamental to shareholder returns—like capital discipline and balance sheet management—were also at play.”

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