16 Best Income Stocks To Buy According to Analysts

8. Exxon Mobil Corporation (NYSE:XOM)

Upside Potential as of December 13: 18.5%

Exxon Mobil Corporation (NYSE:XOM) is an American multinational energy company. The company has caught the attention of investors in 2024, with its stock rising over 8% since the beginning of the year. It holds a strong portfolio of high-quality assets. The company’s diverse operations, including exploration, production, refining, marketing, and specialty chemicals, provide a significant edge by mitigating risks and optimizing cash flow through its global network.

Exxon Mobil Corporation (NYSE:XOM) reported impressive performance in the third quarter of 2024, generating $90.02 billion in revenue, surpassing analysts’ expectations by $1.66 billion. The company continues to lead in carbon capture and storage, recently securing a new agreement that raises its annual CO2 offtake commitments to 6.7 million metric tons—outpacing all competitors in the sector. Exxon also showed strong financial health, reporting $17.6 billion in operating cash flow and $11.3 billion in free cash flow for the quarter. Moreover, it returned $9.8 billion to shareholders through dividends and stock repurchases.

Exxon Mobil Corporation (NYSE:XOM) is one of the strongest dividend payers in the market, growing its payouts by 42 consecutive years. Currently, the company offers a quarterly dividend of $0.99 per share and has a dividend yield of 3.57%, as of December 13.

At the end of Q3 2024, 86 hedge funds in Insider Monkey’s database held stakes in Exxon Mobil Corporation (NYSE:XOM), compared with 92 in the previous quarter. The consolidated value of these stakes is roughly $7 billion. First Eagle Investment Management was one of the company’s leading stakeholders.