5 Best Energy Stocks to Buy Now

1. Exxon Mobil Corporation (NYSE: XOM)

Number of Hedge Fund Holders: 65

Exxon Mobil Corporation (NYSE: XOM) is an energy company exploring and producing crude oil and natural gas in the US and internationally. The company ranks 1st on our list of the best energy stocks to buy now.

This June, Wells Fargo and Citigroup both raised their price targets on Exxon Mobil Corporation (NYSE: XOM) to $72 and $62, respectively. Wells Fargo has an Overweight rating on the shares, with analyst Roger Read commenting that Exxon Mobil Corporation’s (NYSE: XOM) net debt could be reduced to $35 billion by the end of 2023 in a positive development.

In the first quarter of 2021, Exxon Mobil Corporation (NYSE: XOM) had an EPS of $0.65, beating estimates by $0.05. The company’s revenue was $59.15 billion, up 5.32% year over year and beating estimates by $2.89 billion, and it has a gross profit margin of 32.49%. The stock has gained 28.39% in the past 6 months and 44.92% year to date.

As of the end of the first quarter of 2021, 65 hedge funds held stakes in Exxon Mobil Corporation (NYSE: XOM) worth roughly $2.77 billion. This is compared to 63 hedge funds in the previous quarter with a total stake value of approximately $2.20 billion.

You can also take a peek at 10 Best Renewable Energy Stocks to Buy Now and 10 Best Alternative Fuel Stocks to Buy Now.

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