5 Oil and Gas Stocks to Buy According to Ray Dalio

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 72

Exxon Mobil Corporation (NYSE:XOM) is a Texas-based oil and gas company. At the end of Q2 2022, Bridgewater Associates held 1.9 million shares of the company, worth $163.48 million, representing 0.69% of the fund’s portfolio. Bridgewater increased its position in Exxon Mobil Corporation (NYSE:XOM) by 67% in Q2 2022.

In the first half of 2022, Exxon Mobil Corporation (NYSE:XOM) generated a free cash flow of $27.0 billion, and its payout obligations summed up to $7.6 billion. Furthermore, the company repurchased stocks worth $6 billion and is aiming towards buying back $30 billion in common stock by the end of December 2023.

Exxon Mobil Corporation (NYSE:XOM) has worked towards improving its balance sheet in recent years. Including its short-term debt, the company had a net debt load of $63.8 billion at the end of 2020, which was brought down to $28.0 billion by June 30, 2022.

Saturna Capital mentioned Exxon Mobil Corporation (NYSE:XOM) in its fourth-quarter 2021 investor letter. Here is what the firm said:

“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 look at 10 Stocks To Buy According to William Von Mueffling’s Cantillon Capital Management and 10 Important Energy Stocks Making Moves After Earnings.

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