5 Most Profitable Oil Stocks in the World

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1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

Latest TTM Net Income: $41.13 billion

Exxon Mobil Corporation (NYSE:XOM), a prominent American energy company, stands out as a top investment choice during bear markets. With a rich history dating back to John D. Rockefeller’s Standard Oil, Exxon Mobil Corporation (NYSE:XOM) has undergone a remarkable 140-year transformation. Originating as a local kerosene distributor in the United States, it has evolved into a global giant, ranking among the foremost publicly traded entities in the petroleum and petrochemical sectors.

On October 11, Exxon Mobil Corporation (NYSE:XOM) and Pioneer Natural Resources (NYSE:PXD) jointly unveiled a firm agreement detailing Exxon Mobil Corporation (NYSE:XOM)’s acquisition of Pioneer. This merger is structured as an all-stock transaction with a total valuation of $59.5 billion, equivalent to $253 per share based on ExxonMobil’s closing price on October 5, 2023. According to the agreement’s stipulations, Pioneer shareholders will receive 2.3234 shares of XOM for each PXD share upon completion. The overall enterprise value of this transaction, accounting for net debt, approximates $64.5 billion.

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

Disclosure: None. You can also take a look at 11 Best Fundamentally Strong Penny Stocks To Invest In and 13 Best Holding Company Stocks To Invest In.

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