5 Best LNG and LNG Shipping Stocks To Buy Now

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

Exxon Mobil Corporation (NYSE:XOM) has been a key leader in the LNG business, with over 40 years of LNG project development experience. Boasting a heritage dating back to John D. Rockefeller’s Standard Oil, Exxon Mobil Corporation (NYSE: XOM) has undergone an evolution over 140 years. Initially established as a local kerosene distributor in the United States, the company has grown into a global powerhouse, standing among the leading publicly traded names in the petroleum and petrochemical sectors.

On November 2, Exxon Mobil Corporation (NYSE:XOM) announced the successful completion of its acquisition of Denbury Inc. in an all-stock transaction valued at $4.9 billion, equivalent to $89.45 per share based on XOM’s closing price on July 12, 2023. According to the terms of the agreement, Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share. The acquisition encompasses Gulf Coast and Rocky Mountain oil and natural gas operations, which include proven reserves exceeding 200 million barrels of oil equivalent (MMboe) as of year-end 2022, along with approximately 46,000 barrels of oil equivalent per day (boed) in current production. These operations not only generate immediate operating cash flow but also provide flexibility for carbon capture initiatives.

By the end of Q3 2023, data from Insider Monkey’s database revealed that 79 hedge funds had positions in Exxon Mobil Corporation (NYSE:XOM), an increase from the 71 hedge funds in the previous quarter. The combined value of these holdings exceeds $4.48 billion.

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