12 Best Energy Stocks To Invest In Now

Page 11 of 11

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Investors: 86

Exxon Mobil Corporation (NYSE:XOM), founded in 1870 and headquartered in Spring, Texas, is one of the world’s largest publicly traded energy companies. The company operates across the entire energy spectrum, from oil and gas exploration and production to refining and petrochemicals. Exxon Mobil Corporation (NYSE:XOM) serves global markets with a wide range of products, including fuels, lubricants, and petrochemicals.

Exxon Mobil Corporation (NYSE:XOM) is focusing on new technologies that have huge potential. The company has developed Proxxima, a revolutionary thermoset resin that is stronger, lighter, and more corrosion-resistant than conventional materials. According to Darren Woods, Chairman, and Chief Executive Officer of Exxon Mobil Corporation (NYSE:XOM), Proxxima has a total addressable market of 5 million tons per year and $30 billion by 2030, with applications in rebar, high-performance coatings, and lightweight applications for automobiles.

Exxon Mobil Corporation (NYSE:XOM) is actively advancing plans for its Gas-to-Energy Project in collaboration with the Government of Guyana. This initiative aims to utilize natural gas from the company’s offshore operations in the Liza Phase 1 and 2 fields. The project includes constructing a pipeline to transport approximately 50 million standard cubic feet of natural gas per day to onshore gas processing facilities. As of Q3, the company has completed the pipeline tie-ins, and once the government finalizes the associated power plant, the project will deliver electricity that is more affordable, cleaner, and highly reliable.

While we acknowledge the potential of Exxon Mobil Corporation (NYSE:XOM) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than XOM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 11 of 11