In this article, we will take a look at the 5 stocks to buy now according to Peter Stamos’ Stamos Capital. If you wish to see our detailed analysis of Stamos’ history, investment philosophy, and hedge fund performance, go directly to the 10 Stocks To Buy Now According To Stamos Capital.
5. Exxon Mobil Corporation (NASDAQ:XOM)
Stamos Capital’s Stake Value: $6.4 million
Percentage of Stamos Capital’s 13F Portfolio: 3.37%
Number of Hedge Fund Holders: 68
Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest multinational oil and gas companies that manufactures and transports crude oil, natural gas and petroleum products. The Texas-based company ranks fifth on the list of the 10 stocks to buy now according to Stamos Capital.
On October 7, Truist analyst Neal Dingmann raised his price target on Exxon Mobil Corporation (NYSE:XOM) to $66 from $64, and kept a Hold rating on the shares.
Peter Stamos’ Stamos Capital owns 101,570 shares in Exxon Mobil Corporation (NYSE:XOM), valued at $6.4 million, making up 3.37% of the fund’s 13F portfolio. Of the 873 elite funds tracked by Insider Monkey, 68 reported holding stakes in the company by the end of the June quarter.
4. Bank of America Corporation (NYSE:BAC)
Stamos Capital’s Stake Value: $6.87 million
Percentage of Stamos Capital’s 13F Portfolio: 3.62%
Number of Hedge Fund Holders: 87
Bank of America Corporation (NYSE:BAC) is a multinational bank and financial services holding company based in North Carolina. Founded in San Francisco, it is one of the worlds largest financial institutions.
On October 11, Jefferies analyst Ken Usdin raised his price target on Bank of America Corporation (NYSE:BAC) to $48 from $41, and kept a Hold rating on the shares.
Oakmark Funds, in its Bill Nygren third-quarter 2021 market commentary, mentioned Bank of America Corporation (NYSE:BAC). Here is what the fund said:
“Earlier this year, one of our holdings, Bank of America, announced that it was raising its minimum hourly wage from $15 to $20 and would increase it to $25 by 2025. The company received great press for placing the well-being of its employees above profits. But was it really either/or? Bank of America’s chief human resources officer spoke to the bigger picture: “A core tenet of responsible growth is our commitment to being a great place to work…that includes providing strong pay and competitive benefits to help them and their families, so that we continue to attract and retain the best talent.” Bank of America understood that engaged, high-caliber employees are more productive, less prone to turnover and, therefore, less expensive in the long run. Increasing the pay for employees wasn’t elevating employees above shareholders; it was the right thing to do for employees and for shareholders.
If an increase to $20 was good, why stop there? Why not $50 per hour? Because the benefits the business receives at $50 don’t justify the expense. The bank would no longer be able to price its products competitively and would lose business. The employees would “win” in the short term, but eventually the lost business would lead to job cuts, meaning both employees and shareholders would lose. The negative effects of stakeholder overreach are no different than when CEOs overreach to inflate short-term profits. Both hurt shareholders and stakeholders.”
3. JPMorgan Chase & Co. (NYSE:JPM)
Stamos Capital’s Stake Value: $7.7 million
Percentage of Stamos Capital’s 13F Portfolio: 4.06%
Number of Hedge Fund Holders: 108
Incorporated in Delaware, and based in New York, JPMorgan Chase & Co. (NYSE:JPM) is a multinational financial services and investment banking firm that offers financial advisory services and solutions across the globe.
On October 11, Jefferies analyst Ken Usdin raised his price target on JPMorgan Chase & Co. (NYSE:JPM) to $198 from $177, and maintained a Buy rating on the shares.
Peter Stamos of Stamos Capital Partners currently holds 49,540 shares in the company, amounting to more than $7.7 million in worth and accounting for 4.06% of his hedge fund’s total portfolio value. By the end of the June quarter, 108 hedge funds out of the 873 tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE:JPM) worth roughly $4.8 billion. This is compared to 111 hedge funds in the previous quarter with a total stake value of approximately $5.2 billion.
2. Chevron Corporation (NYSE:CVX)
Stamos Capital’s Stake Value: $8 million
Percentage of Stamos Capital’s 13F Portfolio: 4.22%
Number of Hedge Fund Holders: 50
Chevron Corporation (NYSE: CVX) is an energy company involved in the exploration, development, and production of crude oil and natural gas.
On October 7, Truist analyst Neal Dingmann raised the price target on Chevron Corporation (NYSE:CVX) to $150 from $145, and kept a Buy rating on the shares of the company. Shares of the company rose by 2.3% following the rise in the prices of Brent crude oil.
By the end of the second quarter of 2021, 50 hedge funds out of the 873 tracked by Insider Monkey held stakes in Chevron Corporation (NYSE: CVX) worth roughly $4.3 billion. This is compared to 41 hedge funds in the previous quarter with a total stake value of approximately $4.9 billion. Peter Stamos reported owning 76,570 shares in the company worth more than $8 million.
1. AT&T Inc. (NYSE:T)
Stamos Capital’s Stake Value: $8.7 million
Percentage of Stamos Capital’s 13F Portfolio: 4.58%
Number of Hedge Fund Holders: 68
Dallas-based AT&T Inc. (NYSE:T) is a mobile-phone and Internet services provider that operates as a multinational holding company. It ranks first on our list of the 10 stocks to buy now according to Stamos Capital.
On October 7, MoffettNathanson analyst Craig Moffett upgraded AT&T Inc (NYSE:T) to Neutral from Sell, with a price target of $28, up from $23.
As of the end of the second quarter, 68 hedge funds tracked by Insider Monkey reported owning stakes in AT&T Inc. (NYSE:T). The total worth of these stakes is $2.9 billion. This is compared to 63 funds had stakes in the company in the previous quarter, with a total worth of $2.7 billion. According to our database, Stamos Capital owns 302,500 shares in AT&T Inc. (NYSE:T), worth roughly $8.7 million.
You can also take a peek at 10 Cheap Dividend Kings with Over 2% Yield and 12 Best Semiconductor Stocks To Invest In Right Now.
