5 Best Energy Stocks for 2022

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

On April 29, Exxon Mobil Corporation (NYSE:XOM) announced earnings for the fiscal first quarter of 2022 in which it beat revenue estimates by $6.93 billion. The company reported earnings per share of $2.07 and generated quarterly revenues of $90.50 billion, up 53.01% year over year from $59.15 billion. Moreover, Exxon Mobil Corporation (NYSE:XOM) also increased its share repurchase program to $30 billion through 2023, as part of its aim to drive investors’ returns.

This May, Cowen analyst Jason Gabelman raised his price target on Exxon Mobil Corporation (NYSE:XOM) to $90 from $77 and reiterated a Market Perform rating on the shares. The analyst holds a positive outlook on the stock and noted that the company is on a path to reaping profits from peer-leading refining exposure through the second quarter of 2022, while facing minor headwinds from elevated maintenance across its portfolio.

Exxon Mobil Corporation (NYSE:XOM) is one of the top stock picks among hedge funds. Insider Monkey found that 71 hedge funds held long positions in Exxon Mobil Corporation (NYSE:XOM) at the close of Q4 2021. The total value of these funds’ stakes was $5.38 billion, up from $4.64 billion in the previous quarter with 64 positions. The hedge fund sentiment for the stock is positive.

As of December 31, 2021, GQG Partners is the top stakeholder in Exxon Mobil Corporation (NYSE:XOM) boasting stakes worth $1.98 billion in the company, up 22% from the fund’s Q3 2021 stakes. The investment covers 4.91% of GQG Partners’ 13F portfolio.

Saturna Capital mentioned Exxon Mobil Corporation (NYSE:XOM) in its fourth-quarter 2021 investor letter. Here is what experts at Saturna Capital had to say:

“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon, which appeared decennially from 1980 through 2010. In 2019 it was ranked 10th, but as of writing has dropped to 39th place.”

You can also take a look at 12 Best Solar Energy Stocks To Invest In and 10 Energy Stocks that Pay Monthly Dividends.

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