Retirement Stock Portfolio: 5 Safe Energy Stocks to Consider

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 75    

Exxon Mobil Corporation (NYSE:XOM) explores for and produces crude oil and natural gas. It is one of the prominent safe energy stocks for a retirement stock portfolio. On October 31, Truist analyst Neal Dingmann maintained a Hold rating on Exxon Mobil Corporation (NYSE:XOM) stock and raised the price target to $114 from $111, noting that the company’s third quarter results included US refining throughput levels not seen since 2008, as its Energy Products division posted 13% sequential growth.  

Among the hedge funds being tracked by Insider Monkey, Lauderdale, Florida-based investment firm GQG Partners is a leading shareholder in Exxon Mobil Corporation (NYSE:XOM) with 33.9 million shares worth more than $3 billion.

In its Q2 2022 investor letter, First Eagle Investments, an asset management firm, highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. Here is what the fund said:

“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.”