8 Best American Dividend Stocks To Buy Right Now

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 86

Exxon Mobil Corporation (NYSE:XOM) ranks second on our list of the best dividend stocks. On November 1, the American energy company announced a 4% hike in its quarterly dividend to $0.99 per share. This marked the company’s 42nd consecutive year of dividend growth. The stock supports a dividend yield of 3.50%, as of December 10.

Exxon Mobil Corporation (NYSE:XOM) is grabbing investors’ attention this year, surging by nearly 11% since the start of 2024. The company boasts a robust collection of high-quality assets. Its comprehensive operations, spanning exploration, production, refining, marketing, and specialty chemicals, offer a significant advantage by reducing risks and leveraging its global network to maximize cash flow efficiency.

In the third quarter of 2024, Exxon Mobil Corporation (NYSE:XOM) delivered strong results, posting $90.02 billion in revenue and exceeding analysts’ projections by $1.66 billion. The company leads in carbon capture and storage efforts, recently signing a new agreement that increased its annual CO2 offtake commitments to 6.7 million metric tons—more than any other competitor in the field. It also maintains a robust financial position. During the quarter, it reported $17.6 billion in operating cash flow and $11.3 billion in free cash flow. Additionally, it returned $9.8 billion to shareholders through dividends and stock buybacks.

Exxon Mobil Corporation (NYSE:XOM) was included in 86 hedge fund portfolios at the end of Q3 2024, compared with 92 in the preceding quarter, as per Insider Monkey’s database. The stakes held by these funds have a collective value of nearly $7 billion. Ken Fisher, Rajiv Jain, and Ken Griffin were the company’s leading stakeholders in Q3.