5 Oil Stocks That Are Too Cheap To Ignore

1. Exxon Mobil Corporation (NYSE:XOM)

Share Price as of October 15, 2022: $98.81

Number of Hedge Fund Holders: 72

Exxon Mobil Corporation (NYSE:XOM) is one of the oldest and largest oil companies in the world as it was set up in 1870 and is headquartered in Irving, Texas, the United States. The company operates more than 20,000 oil wells with proven reserves.

Exxon Mobil Corporation (NYSE:XOM)’s latest quarter saw the firm grow its revenue by a massive 70%, with its net earnings coming out to $17.8 billion, which in itself marked for a whopping 400% annual increase – a no small feat for an established and mature company.

Exxon Mobil Corporation (NYSE:XOM) also stands to benefit from the geopolitical uncertainty in the wake of the Russian invasion of Ukraine which has spurred demand for non-Russian oil. Morgan Stanley raised its share price target to $117 from $113 in September 2022, outlining that Exxon Mobil Corporation (NYSE:XOM)’s scale makes it likely to benefit from the Inflation Reduction Act.

Exxon Mobil Corporation (NYSE:XOM)’s shares have jumped by 56% year to date and the firm pays an 88 cent dividend for a 3.55% yield. Insider Monkey’s Q2 2022 survey of 895 hedge funds outlined that 72 had bought the company’s shares.

Out of these, Exxon Mobil Corporation (NYSE:XOM)’s largest investor is Rajiv Jain’s GQG Partners which owns 47 million shares that are worth $4 billion.

Disclosure: None. You can also take a look at 10 Biggest Industries In the US and 11 Best Cyclical Stocks To Buy.

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