5 Best Dividend Stocks to Buy According to Irving Kahn’s Hedge Fund

2. Exxon Mobil Corporation (NYSE: XOM)

Kahn Brothers’ Stake Value: $902,000
Percentage of Kahn Brothers’ 13F Portfolio: 0.13%
Dividend Yield: 5.68%
Number of Hedge Fund Holders: 65

Exxon Mobil Corporation (NYSE: XOM) is a multinational oil and gas corporation. The company was incorporated in 1870 and is ranked second on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. Exxon Mobil Corporation (NYSE: XOM) currently has a $258.97 billion market capitalization. It delivered a 36.41% return in the past 12 months.

On July 12, BMO Capital analyst Phillip Jungwirth initiated a coverage of Exxon Mobil Corporation (NYSE: XOM) with a “Market Perform” rating and $69 price target.

Kahn Brothers owns 16,170 shares of the company, worth $902,000. Exxon Mobil Corporation (NYSE: XOM) is also getting the attention of the smart money, as 65 hedge funds tracked by Insider Monkey reported owning stakes in the company in the first quarter of 2021, up from 63 funds a quarter earlier.

Harding Loevner, in their first quarter 2021 investor letter, mentioned Exxon Mobil Corporation (NYSE: XOM). Here is what the fund said:

“We felt that our remaining energy holding, ExxonMobil, with its stronger balance sheet, was in a better position to ride out the cyclical slump in oil demand and even perhaps take advantage of it by investing counter-cyclically. While ExxonMobil does plan to increase capital expenditure, we’ve been disappointed in its regrettable failure to address ongoing emission trends, which reflects poorly on management’s foresight. As a result, we sold our ExxonMobil holdings.”