State Of Alaska Department Of Revenue Has Lifted Its Holding in Exxon Mobil (XOM) by $8.25 Million; As Cummins (CMI) Valuation Rose, Alyeska Investment Group LP Lowered Its Position

February 15, 2018 - By Peter Erickson

State Of Alaska Department Of Revenue increased its stake in Exxon Mobil Corp (XOM) by 50.39% based on its latest 2017Q3 regulatory filing with the SEC. State Of Alaska Department Of Revenue bought 101,825 shares as the company’s stock rose 0.21% with the market. The institutional investor held 303,904 shares of the integrated oil company at the end of 2017Q3, valued at $24.91 million, up from 202,079 at the end of the previous reported quarter. State Of Alaska Department Of Revenue who had been investing in Exxon Mobil Corp for a number of months, seems to be bullish on the $321.43 billion market cap company. The stock decreased 0.78% or $0.6 during the last trading session, reaching $75.86. About 7.60 million shares traded. Exxon Mobil Corporation (NYSE:XOM) has declined 9.08% since February 15, 2017 and is downtrending. It has underperformed by 25.78% the S&P500.

Anand Parekh decreased its stake in Cummins Inc (CMI) by 32.91% based on its latest 2017Q3 regulatory filing with the SEC. Alyeska Investment Group Lp sold 173,819 shares as the company’s stock rose 1.30% with the market. The hedge fund run by Anand Parekh held 354,362 shares of the industrial machinery and components company at the end of 2017Q3, valued at $59.54 million, down from 528,181 at the end of the previous reported quarter. Alyeska Investment Group Lp who had been investing in Cummins Inc for a number of months, seems to be less bullish one the $27.14 billion market cap company. The stock decreased 1.04% or $1.73 during the last trading session, reaching $164.27. About 843,607 shares traded. Cummins Inc. (NYSE:CMI) has risen 43.32% since February 15, 2017 and is uptrending. It has outperformed by 26.62% the S&P500.

Alyeska Investment Group Lp, which manages about $3.14B and $12.39B US Long portfolio, upped its stake in Antero Midstream Gp Lp by 650,000 shares to 1.80M shares, valued at $36.85M in 2017Q3, according to the filing. It also increased its holding in Gores Hldgs Ii Inc by 1.33 million shares in the quarter, for a total of 2.00 million shares, and has risen its stake in Clorox Co Del (NYSE:CLX).

Among 29 analysts covering Cummins (NYSE:CMI), 9 have Buy rating, 3 Sell and 17 Hold. Therefore 31% are positive. Cummins had 100 analyst reports since July 22, 2015 according to SRatingsIntel. Deutsche Bank maintained it with “Sell” rating and $147 target in Wednesday, August 2 report. RBC Capital Markets maintained Cummins Inc. (NYSE:CMI) rating on Thursday, March 23. RBC Capital Markets has “Hold” rating and $140 target. The stock of Cummins Inc. (NYSE:CMI) has “Underweight” rating given on Wednesday, October 28 by Barclays Capital. On Thursday, October 12 the stock rating was downgraded by Longbow to “Neutral”. The stock has “Neutral” rating by Seaport Global on Thursday, April 6. Stifel Nicolaus maintained Cummins Inc. (NYSE:CMI) rating on Monday, February 5. Stifel Nicolaus has “Hold” rating and $182.0 target. The firm has “Hold” rating given on Thursday, September 1 by Jefferies. Jefferies maintained Cummins Inc. (NYSE:CMI) rating on Wednesday, September 6. Jefferies has “Hold” rating and $165.0 target. The rating was maintained by RBC Capital Markets on Thursday, February 8 with “Hold”. Stifel Nicolaus maintained the shares of CMI in report on Thursday, June 15 with “Hold” rating.

Investors sentiment increased to 1.1 in Q3 2017. Its up 0.09, from 1.01 in 2017Q2. It improved, as 57 investors sold CMI shares while 253 reduced holdings. 92 funds opened positions while 249 raised stakes. 132.23 million shares or 1.24% more from 130.61 million shares in 2017Q2 were reported. Cincinnati Communication has 3.35% invested in Cummins Inc. (NYSE:CMI) for 666,500 shares. Afam reported 35,436 shares or 0.72% of all its holdings. Raub Brock Cap Lp has 109,491 shares. Cadence Capital Mgmt Ltd accumulated 31,845 shares. Beacon Fincl Grp reported 6,001 shares stake. Archford Cap Strategies Lc stated it has 15,025 shares or 0.95% of all its holdings. Pring Turner Group Inc owns 19,210 shares for 3.2% of their portfolio. Los Angeles Capital Mngmt And Equity Rech Incorporated reported 438,203 shares or 0.42% of all its holdings. Texas Yale invested 0.03% of its portfolio in Cummins Inc. (NYSE:CMI). Kornitzer Capital Management Ks, a Kansas-based fund reported 25,070 shares. Magnetar Fin Llc has 3,783 shares for 0.01% of their portfolio. Schwerin Boyle Mngmt invested in 1.07% or 56,400 shares. Rothschild Asset Mgmt Inc, New York-based fund reported 298,496 shares. Jag Cap Mngmt Ltd Company invested in 0.3% or 9,462 shares. Legacy Private Tru Co owns 1,382 shares.

Among 26 analysts covering Exxon Mobil (NYSE:XOM), 9 have Buy rating, 7 Sell and 10 Hold. Therefore 35% are positive. Exxon Mobil had 88 analyst reports since July 22, 2015 according to SRatingsIntel. The company was maintained on Tuesday, January 23 by Piper Jaffray. The rating was upgraded by Vetr on Thursday, August 20 to “Buy”. The rating was initiated by Credit Suisse on Monday, December 11 with “Hold”. On Monday, June 26 the stock rating was maintained by BMO Capital Markets with “Hold”. The stock has “Buy” rating by Cowen & Co on Friday, January 19. On Thursday, June 2 the stock rating was downgraded by Bank of America to “Neutral”. Morgan Stanley maintained Exxon Mobil Corporation (NYSE:XOM) on Wednesday, October 18 with “Underperform” rating. The stock has “Hold” rating by RBC Capital Markets on Monday, October 9. On Tuesday, November 7 the stock rating was downgraded by HSBC to “Reduce”. The stock of Exxon Mobil Corporation (NYSE:XOM) has “Sector Outperform” rating given on Monday, June 5 by Howard Weil.

Since September 18, 2017, it had 0 insider buys, and 5 selling transactions for $5.23 million activity. Milton Bryan W sold $606,082 worth of stock or 7,281 shares. Corson Bradley W sold $1.62 million worth of Exxon Mobil Corporation (NYSE:XOM) on Monday, December 11. 22,656 shares were sold by Franklin Robert Stuart, worth $1.81M. $200,293 worth of stock was sold by Wascom Dennis G on Friday, December 15.

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