Vivek Ramaswamy’s New ETF: Top 5 Stock Picks

1. Exxon Mobil Corporation (NYSE:XOM)

Percentage of Strive U.S. Energy ETF’s Portfolio: 22%

Number of Hedge Fund Holders: 72

At the end of Q2 2022, 72 hedge funds disclosed ownership of stakes in Exxon Mobil Corporation (NYSE:XOM). The total value of these stakes amounted to $7.40 billion. As of September 8, Exxon Mobil Corporation (NYSE:XOM) has returned 75.49% to investors over the past twelve months.

On July 29, Exxon Mobil Corporation (NYSE:XOM) announced market-beating earnings for the second quarter of fiscal 2022. The company generated a revenue of $115.7 billion, up 70.7% year over year, and beat expectations by $3.62 billion. The company reported earnings per share of $4.14 and outperformed estimates by $0.29.

On September 7, Morgan Stanley analyst Devin McDermott raised his price target on Exxon Mobil Corporation (NYSE:XOM) to $113 from $107 and reiterated a buy-side Overweight rating on the shares.

As of September 8, Exxon Mobil Corporation (NYSE:XOM) has a trailing twelve-month PE ratio of 10.39 and is offering a forward dividend yield of 3.74%, which the company supports with free cash flows of $49.2 billion.

Here is what First Eagle Investments had to say about Exxon Mobil Corporation (NYSE:XOM) in its second-quarter 2022 investor letter:

“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industrywide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”

You can also take a look at 15 Best Energy Stocks to Buy Now and 10 Best Oil Stocks To Buy Now.

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