5 Best Epicenter Stocks To Buy Now

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 64    

Exxon Mobil Corporation (NYSE:XOM) is an oil and gas firm based in Texas. The stock has returned close to 50% to shareholders in the past twelve months. Exxon Mobil Corporation (NYSE: XOM) recently started the sale process for some shale properties in Ohio valued at $200 million, per Reuters. Exxon Mobil Corporation (NYSE: XOM) is expected to use the funds from the sale of the assets to focus on the development of new properties in Brazil and the Permian Basin in Texas. 

Exxon Mobil Corporation (NYSE: XOM) is also slowly incorporating ESG into the company policy and many environmental activists now see the firm in a positive light. Hedge funds have lauded the efforts of Exxon Mobil Corporation (NYSE: XOM) in this regard too. 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). 

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.”