Top 20 Dividend Stocks of 2024

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 86

Exxon Mobil Corporation (NYSE:XOM) is an American multinational energy company. It described its Q3 performance as “industry-leading” and intends to keep investing in 2025 to sustain that position, while also continuing to buy back its stock to reward shareholders. For 2025, the company plans to increase capital investments to between $27 billion and $29 billion, alongside an additional $20 billion for share repurchases, which will reduce the number of shares in circulation, benefiting shareholders.

Exxon Mobil Corporation (NYSE:XOM) reported revenue of $90.02 billion in Q3 2024, exceeding analysts’ expectations by $1.66 billion. It remains a leader in carbon capture and storage, having secured a new agreement that increases its annual CO2 offtake commitments to 6.7 million metric tons, surpassing all its competitors in the sector. Exxon also demonstrated strong financial performance, generating $17.6 billion in operating cash flow and $11.3 billion in free cash flow for the quarter. Additionally, it returned $9.8 billion to shareholders through dividends and stock buybacks.

Exxon Mobil Corporation (NYSE:XOM) is renowned for its reliability as a dividend payer, having increased its payouts for 42 consecutive years. The company currently offers a quarterly dividend of $0.99 per share and has a dividend yield of 3.74%, as of December 30.

At the end of Q3 2024, 86 hedge funds in Insider Monkey’s database held stakes in Exxon Mobil Corporation (NYSE:XOM), compared with 92 in the previous quarter. The consolidated value of these stakes is roughly $7 billion. First Eagle Investment Management was one of the company’s leading stakeholders.