5 Best Fuel Stocks to Buy Now

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

TTM PE ratio as of April 22: 8.75

Exxon Mobil Corporation (NYSE:XOM) is an American multinational integrated oil and gas company. The company has also started to make investments toward the low carbon future and plans to invest $15 billion toward it. Additionally, in January 2022, the company acquired a 49.9% stake in the Norwegian biofuels company, Biojet AS.

Along with being one of the best energy stocks, Exxon Mobil Corporation (NYSE:XOM) is also one of the best dividend stocks to buy and hold according to our research. The company has increased its dividends for the past 4 decades and has a dividend yield of 3.07% at the time of writing.

On April 18, UBS upgraded Exxon Mobil Corporation (NYSE:XOM) stock from Neutral to Buy and raised the price target to $144 from $125. The firm believes that the company is well-positioned to take advantage of the current upcycle. Moreover, Exxon Mobil Corporation (NYSE:XOM) is also set to give out better shareholder returns in the future.

Here’s what First Eagle Investments said about Exxon Mobil Corporation (NYSE:XOM) in its Q2 2022 investor letter:

“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industrywide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”

You can also look at the Top 15 Luxury Fashion Companies in the World and the 11 Best Diversified Stocks to Buy Now.

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