5 Safe Dividend Stocks with High Yields

1. Exxon Mobil Corporation (NYSE:XOM)

Dividend Yield as of December 29: 5.77%

Number of Hedge Funds: 64

Exxon Mobil Corporation (NYSE:XOM) is the biggest publicly listed energy company in the US. The Irving, Texas-based oil major is involved in the exploration and production (upstream), transportation (midstream), and refining and marketing (downstream) segment of crude oil, crude oil condensates, and natural gas. The integrated oil company also happens to be a member of the Dividend Aristocrat list as it has been increasing its annual dividend for 37 consecutive years. On October 27, Exxon Mobil Corporation (NYSE:XOM) declared a quarterly dividend of 88 cents per share. The company has a forward dividend yield of 5.77% as of December 29.

In a report issued to its investors on December 10, Phil Gresh at JPMorgan increased the price target on Exxon Mobil Corporation (NYSE:XOM) from $81 to $83 and maintained an Overweight rating on the stock. The target reflects a potential upside of over 32% from the current stock price. The analyst said that Exxon Mobil Corporation (NYSE:XOM) is heading into a new direction through its newfound financial discipline that has resulted in slashing its record level of debt. Furthermore, the analyst thinks that Exxon Mobil Corporation (NYSE:XOM) has a mix of defensive and offensive assets on its portfolio. Gresh especially highlighted the high-margin Guyana business as a source of creating healthy free cash flows in the years to come.

You can also take a peek at the 10 Back-to-Work Stocks to Buy Now and 10 Canadian Dividend Stocks to Buy.

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