5 Best Fuel Stocks to Buy Now

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1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 72

Irving, Texas-based Exxon Mobil Corporation (NYSE:XOM) is one of the largest publicly traded international energy and petrochemical companies. It is one of the largest integrated fuels, lubricants, and chemical companies in the world.

Exxon Mobil Corporation (NYSE:XOM) has a long history of dividend payments and its payouts have grown at an average annual rate of 6.0% over the last 39 years. In July, the company declared a cash dividend of $0.88 per share for the third quarter. Its shares currently have a dividend yield of 3.39%.

On October 18, Jefferies analyst Lloyd Byrne assumed coverage of Exxon Mobil Corporation (NYSE:XOM) and upgraded the rating on its shares to ‘Buy’ from ‘Hold’, with a price target of $133, up from $90. The analyst believes that high commodity prices and the company’s investments throughout the cycle position it for growth in the Upstream and Downstream segments.

As of Q2 2022, Exxon Mobil Corporation (NYSE:XOM) was the most sought-after energy stock among hedge funds on our list of 10 best fuel stocks to buy now, as 72 of the elite hedge funds tracked by Insider Monkey held its shares, valued at $7.4 billion. Rajiv Jain’s GQG Partners was its largest hedge fund shareholder with ownership of 47.5 million shares valued at $4.1 billion.

You may also like to read Top 10 Small-Cap Stocks With Highest Upside Potential and 10 Best Used Car Stocks To Buy Now

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