Billionaires Are Betting On These 5 Energy Stocks

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Billionaire Investors: 17

Dollar Value of Billionaire Holdings: $2.61 billion

Exxon Mobil Corporation (NYSE:XOM) is one of the biggest integrated oil and gas companies in the world. The corporation carries out the discovery, exploration, development, and production of crude oil, natural gas, and natural gas liquids.

On December 7, Exxon Mobil Corporation (NYSE:XOM)’s CEO, Darren Woods, commented that the company is hurrying to respond to the Federal Trade Commission’s second request for more information on its acquisition of Pioneer Natural Resources Company (NYSE:PXD). The $59.5 billion or $253 per share deal was disclosed in October 2023.

On December 6, Exxon Mobil Corporation (NYSE:XOM) announced to raise its share repurchase program to $20 billion per year from the previously announced $17.5 billion program in 2023. The corporation said that the program will be initiated next year around the time it completes the above-mentioned acquisition and will continue through 2025.

Among our list of energy stocks that billionaires are betting on, Exxon Mobil Corporation (NYSE:XOM) is one of the top stock picks, as 17 billionaires had investments in the stock at a total dollar value of $2.61 billion.

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