5 LNG Stocks to Watch Amid Ukraine Crisis

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71   

Exxon Mobil Corporation (NYSE:XOM) is an integrated oil and gas firm. Hedge funds have been loading up on the stock in recent weeks as energy prices surge. At the end of the fourth quarter of 2021, 71 hedge funds in the database of Insider Monkey held stakes worth $5.3 billion in Exxon Mobil Corporation (NYSE:XOM), compared to 64 in the preceding quarter worth $4.6 billion. 

Exxon Mobil Corporation (NYSE: XOM) has come under increased pressure over dealings with Rosneft, one of the largest energy producers in Russia, as the US government sanctions Russian entities. The bank through which Exxon conducts business in Russia is among those sanctioned recently by the White House. In 2014, Exxon had taken a $200 million hit by abandoning joint ventures with the Russians after military operations by Moscow in Ukraine. 

In its Q1 2021 investor letter, Harding Loevner highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. Here is what the fund said:

“We felt that our remaining energy holding, ExxonMobil, with its stronger balance sheet, was in a better position to ride out the cyclical slump in oil demand and even perhaps take advantage of it by investing counter-cyclically. While ExxonMobil does plan to increase capital expenditure, we’ve been disappointed in its regrettable failure to address ongoing emission trends, which reflects poorly on management’s foresight. As a result, we sold our ExxonMobil holdings.”

You can also take a peek at 10 Stocks Reddit’s WallStreetBets is Buying in July 2021 and Top Robinhood Stocks Popular on Reddit.

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