5 Energy Stocks to Watch

1. Exxon Mobil Corporation (NYSE:XOM)

Number Of Hedge Fund Holders: 83

Exxon Mobil Corporation (NYSE:XOM) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller’s Standard Oil, and was formed on November 30, 1999, by the merger of Exxon and Mobil. One of the most reliable dividend payers in the world, Exxon Mobil Corporation (NYSE:XOM) has recorded 39 years of consistent dividend increases. The stock has gained 41.06% since the beginning of 2022.

On July 19, Piper Sandler analyst Ryan Todd upgraded Exxon Mobil Corporation (NYSE:XOM) to Overweight from Neutral with a price target of $109, up from $102. According to the analyst, the setup for energy stocks heading into Q2 earnings reports looks increasingly attractive, and he remains constructive on Exxon Mobil Corporation (NYSE:XOM) based on its good downstream performance and believes its chemicals arm will show resilience.

As per Insider Monkey’s database for Q1, Exxon Mobil Corporation (NYSE:XOM) experienced growth in hedge fund positions, as 83 elite funds owned stakes in the company, up from 71 in the previous quarter. The consolidated value of these stakes is over $8.5 billion. Rajiv Jain’s GQG Partners is the company’s biggest shareholder, with a stake worth over $4.2 billion.

Saturna Capital mentioned Exxon Mobil Corporation (NYSE:XOM) in its Q4 2021 investor letter. Here is what the firm has to say:

“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon, which appeared decennially from 1980 through 2010. In 2019 it was ranked 10th, but as of writing has dropped to 39th place.”

You can also take a peek at Analysts Just Turned Bullish on These 10 Stocks and 10 Cheap Dividend Stocks with Over 6% Yield.

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