5 Best Natural Gas Dividend Stocks To Buy

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 72

Dividend Yield as of October 28: 3.18%

Exxon Mobil Corporation (NYSE:XOM) is one of the premier energy dividend stocks to invest in. On October 28, Exxon Mobil Corporation (NYSE:XOM) declared a $0.91 per share quarterly dividend, a 3.4% increase from its prior dividend of $0.88. The dividend will be paid to shareholders on December 9. U.S. energy giants Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) reported a combined $31 billion in third quarter profits.

On October 18, Jefferies analyst Lloyd Byrne upgraded Exxon Mobil Corporation (NYSE:XOM) to Buy from Hold with a price target of $133, up from $90. Exxon Mobil Corporation (NYSE:XOM) invested through the cycle, while the rest of the industry limited capital, said the analyst, who believes higher capital paired with increasing commodity prices will allow the company to de-lever and make room for growth in both the Upstream and Downstream segments.

Among the hedge funds tracked by Insider Monkey, 72 funds were bullish on Exxon Mobil Corporation (NYSE:XOM) at the end of the second quarter of 2022, compared to 83 funds in the preceding quarter. Rajiv Jain’s GQG Partners is the biggest stakeholder of the company, with 47.5 million shares worth over $4 billion. 

In its Q2 2022 investor letter, First Eagle Investments, an asset management firm, highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. Here is what the fund said:

“Integrated oil and gas giant Exxon Mobil Corporation (NYSE:XOM) 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 industry wide 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 take a look at 10 Best Home Appliance Stocks To Invest In and 10 Best Vaccine Stocks To Buy. 

Follow Insider Monkey on Twitter