1. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 64
Based in Irving Texas, Exxon Mobil Corporation (NYSE:XOM) produces crude oil, petroleum, petrochemicals, and natural gas, which it supplies in the United States and internationally. On January 19, RBC Capital analyst Biraj Borkhataria upgraded Exxon Mobil Corporation (NYSE:XOM) to Sector Perform from Underperform with a price target of $90, up from $70.
According to the Q4 earnings preview posted by Exxon Mobil Corporation (NYSE:XOM) on January 31, the consensus EPS estimate is $1.94, and the revenue consensus came in at $84.58 billion, up 81.7% year-over-year.
On January 26, Exxon Mobil Corporation (NYSE:XOM) declared a quarterly dividend of $0.88 per share, in line with previous, offering a forward yield of 4.75%. The dividend is payable on March 10, to shareholders of record on February 10.
Activist investors rallied against Exxon Mobil Corporation (NYSE:XOM) on January 31, when the company published its sustainability report for 2022, expressing its commitment to reach net-zero operational emissions by 2050, when Exxon Mobil Corporation (NYSE:XOM) was responsible for mammoth Scope 3 emissions in 2021. This has raised questions about the firm’s efficacy and commitment towards managing climate risk.
UBS Asset Management and Nest, the largest British pension scheme, pulled out their investment from Exxon Mobil Corporation (NYSE:XOM) in December, citing insufficient progress in managing climate risks as the reason for pulling out their funds. The activist shareholder, named Follow This, filed a shareholder resolution in December to vote at Exxon Mobil Corporation (NYSE:XOM)’s 2022 annual general meeting, and insist on better planning its decarbonization strategies. Similarly, in 2021, minority shareholder Engine No 1 successfully replaced three members on Exxon Mobil Corporation (NYSE:XOM)’s board with climate-conscious candidates.
GQG Partners held the largest Exxon Mobil Corporation (NYSE:XOM) stake in Q3 2021, owning 26.5 million shares worth $1.5 billion. Overall, 64 hedge funds tracked by Insider Monkey in the third quarter held stakes amounting to $4.6 billion in Exxon Mobil Corporation (NYSE:XOM).
Here is what First Eagle Investment Management has to say about Exxon Mobil Corporation (NYSE:XOM) in its Q2 2021 investor letter:
“Leading contributors in the First Eagle Global Fund this quarter included Exxon Mobil Corporation. The continued recovery in oil prices as economies reopen helped fuel another strong performance across the energy complex, including shares of Exxon Mobil. Exxon Mobil recently lost a proxy fight with an activist investor that took three of the company’s 12 board seats. While the press was focused on the investor’s concerns over Exxon Mobil’s long term energy transformation strategy, other factors fundamental to shareholder returns—like capital discipline and balance sheet management—were also at play.”
You can also take a look at Top Dividend Stock Picks of Billionaire George Soros and Warren Buffett’s 5 Worst Performing Stock Picks From 2021.
