Billionaire Rob Citrone is Selling These 5 Stocks

Page 1 of 5

In this article, we will be discussing the 5 stocks that billionaire Rob Citrone is selling. If you wish to see our detailed analysis of Citrone’s hedge fund returns, investment philosophy, and history, go directly to Billionaire Rob Citrone is Selling These 10 Stocks.

5. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 68

Exxon Mobil Corporation (NYSE: XOM), is a multinational oil and gas company that manufactures and transports crude oil, natural gas, petroleum products, petrochemicals, and other specialty products. Based in Irving, Texas, Exxon Mobil Corporation (NYSE:XOM) ranks fifth on the list of the 10 stocks billionaire Rob Citrone is selling.

Discovery Capital Management had sold off its entire stake in Exxon Mobil Corporation (NYSE:XOM) in the second quarter.

In the second quarter of 2021, Exxon Mobil Corporation (NYSE:XOM) had an EPS of $1.10, beating estimates by $0.11. The company’s revenue was $67.74 billion, an increase of 107.77% on a year-over-year basis, beating estimates by $3.02 billion.

By the end of the second quarter of 2021, 68 hedge funds out of the 873 tracked by Insider Monkey held stakes in Exxon Mobil Corporation (NYSE: XOM) worth roughly $3.7 billion. This is compared to 65 hedge funds in the previous quarter with a total stake value of approximately $2.8 billion.

On July 23, Piper Sandler analyst Ryan Todd raised his price target on Exxon Mobil Corporation (NYSE:XOM) to $69 from $63, and kept a Neutral rating on the shares.

In its Q2 2021 investor letter, First Eagle Investment Management stated that Exxon Mobil Corporation (NYSE:XOM) was one of the leading contributors in the fund for the quarter. Here is what they said:

“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.”

Page 1 of 5