5 Undervalued Non-Tech Stocks to Buy in 2022

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1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71   

PE Ratio: 15.10   

Exxon Mobil Corporation (NYSE:XOM) is an integrated oil and gas firm. The stock has gained over 41% this year as inflation due to supply chain problems and the war in Ukraine boosted energy prices across the globe. The firm is on track to generate over $50 billion in free cash flows this year. This will allow the company to pay the planned $15 billion in dividends in 2022 and complete a $15 billion share buyback program. The firm has been investing heavily in the core business as well, like refining projects in the Netherlands and Texas. 

On May 9, Argus analyst Bill Selesky maintained a Buy rating on Exxon Mobil Corporation (NYSE:XOM) stock and raised the price target to $104 from $92, noting that the firm is set to benefit from strong energy market fundamentals. 

At the end of the fourth quarter of 2021, 71 hedge funds in the database of Insider Monkey held stakes worth $5.3 billion in Exxon Mobil Corporation (NYSE:XOM), compared to 64 in the preceding quarter worth $4.6 billion. 

In its Q4 2021 investor letter, Saturna Capital highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. Here is what the fund said:

“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon Mobil Corporation (NYSE:XOM), 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 peek at 12 Best Environmental Stocks to Invest In and 10 Best Nickel Stocks to Buy Now.

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