5 Best Energy Stocks to Buy Now

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 72

Exxon Mobil Corporation (NYSE:XOM) is one of the largest and oldest oil companies in the firm. The firm was founded in 1870 and it is headquartered in Irving, Texas, United States. It is engaged in the business of crude oil, natural gas, and other fuels.

Exxon Mobil Corporation (NYSE:XOM) is one of the companies that is slated to heavily benefit from sanctions against Russian oil in the aftermath of the Ukraine war. Exxon Mobil Corporation (NYSE:XOM) has some of the largest oil refineries in Europe, with its refinery in Antwerp being capable of refining 333,000 barrels of oil daily. This will allow it to move in to scoop up the roughly 1.2 million barrels of demand that will be left if Russia is unable to export to Europe. Additionally, the company is heavily investing in LNG, which is another viable sector that will be opened up to it as the Russian LNG market is expected to witness no growth this year in light of fresh sanctions. Finally, Exxon Mobil Corporation (NYSE:XOM) also pays out an 88 cent dividend for a 3.6% yield.

Credit Suisse set a $125 share price target for Exxon Mobil Corporation (NYSE:XOM) in August 2022 and set an Outperform rating for the shares. 72 of the 895 hedge funds surveyed by Insider Monkey for their second quarter of 2022 investment portfolios had held a stake in the company.

Exxon Mobil Corporation (NYSE:XOM)’s largest investor in our database is Rajiv Jain’s GQG Partners which owns 47 million shares that are worth $4 billion.

Disclosure: None. You can also take a look at 15 Best Security Stocks to Buy Now and 20 Most Expensive Stocks in the US.

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