5 Best Energy Stocks to Invest In Today

1. Exxon Mobil Corporation (NYSE: XOM)

Number of Hedge Fund Holders: 68

Exxon Mobil Corporation (NYSE: XOM) is one of the largest public oil and gas companies in the world. Along with that, the company also employs the use of technologies to meet the growing energy needs. Exxon Mobil Corporation (NYSE: XOM) tops our list of the best energy stocks to invest in today.

In July, BMO Capital Markets initiated its coverage on Exxon Mobil Corporation (NYSE: XOM) with a ‘Market Perform’ rating and a $69 price target. Piper Sandler also lifted its price target on the stock to $69 due to the positive free cash flow outlook for the company. In Q2 2021, Exxon Mobil Corporation (NYSE: XOM) posted a GAAP EPS of $1.10, beating the consensus by $0.12. The company’s revenue presented a 107.7% year-over-year growth at $67.7 billion. Since the beginning of the year, Exxon Mobil Corporation (NYSE: XOM) delivered a 31.4% return to shareholders.

Of the 873 hedge funds tracked by Insider Monkey, 68 hedge funds have positions in Exxon Mobil Corporation (NYSE: XOM) as of Q2 2021. The total value of these stakes is over $3.69 billion. The number of hedge funds is compared to 65 funds in the previous quarter.

Harding Loevner released its Q1 2021 investor letter and mentioned Exxon Mobil Corporation (NYSE: XOM) in it. Here is what the firm has to say:

“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 look at 10 Best Solar Energy Stocks To Buy Now and 11 Best Clean Energy Stocks To Buy

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