8 Best Fuel Stocks To Buy Now

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1. Exxon Mobil Corporation (NYSE:XOM)  

Number of Hedge Fund Holders: 86

Exxon Mobil Corporation (NYSE:XOM) is among the largest publicly traded international energy and petrochemical companies worldwide. The company delivers energy solutions across various sectors, including transportation, manufacturing, energy production, and consumer markets. Its diverse product portfolio features crude oil, natural gas, refined fuels, motor oils, industrial lubricants, and a wide array of petrochemicals such as olefins, aromatics, and ethylene glycol.

Exxon Mobil Corporation (NYSE:XOM) is expanding its liquefied natural gas (LNG) business, with several projects in development, including the Golden Pass venture, which is expected to come online in 2025, and the North Field Expansion in Qatar, and the Papua and Mozambique projects. Additionally, the company is expanding its Product Solutions business, with investments in strategic projects such as the Beaumont expansion and Permian Crude Ventures.

In response to Europe’s transition away from Russian energy resources, Exxon Mobil Corporation (NYSE:XOM) is seizing new opportunities in the region. On November 21, Reuters reported that Exxon Mobil Corporation (NYSE:XOM) plans to commence drilling a well off the coast of Cyprus in January 2025, as part of its ongoing efforts to explore natural gas in the area. The upcoming drilling operation will focus on two wells, Pegasus and Electra, with Electra showing great potential, although additional appraisal drilling will be necessary to determine its feasibility.

While we acknowledge the potential of Exxon Mobil Corporation (NYSE:XOM) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than XOM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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