5 Best Energy Stocks To Buy For 2022

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1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 64   

Exxon Mobil Corporation (NYSE:XOM) is an integrated oil and gas firm. Several elite hedge funds hold large stakes in the company. At the end of the third quarter of 2021, 64 hedge funds in the database of Insider Monkey held stakes worth $4.6 billion in Exxon Mobil Corporation (NYSE:XOM), compared to 64 in the preceding quarter worth $3.6 billion. 

The legacy oil business of Exxon Mobil Corporation (NYSE: XOM) is thriving and the investments of the firm in emerging energy are also starting to pay off. A renewed focus towards ESG also looks set to help Exxon Mobil Corporation (NYSE: XOM) assuage investor concerns about sustainability as well. 

In its Q1 2021 investor letter, Harding Loevner highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. 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.”

You can also take a peek at 10 Stocks Reddit’s WallStreetBets is Buying in July 2021 and Top Robinhood Stocks Popular on Reddit.

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