In this article, we discuss the top 5 blue-chip stocks to buy in 2022. If you want to read our comprehensive analysis of these blue-chip stocks, you can go directly to Top 10 Blue Chip Stocks to Buy in 2022.
5. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 71
Founded in 1870, Exxon Mobil Corporation (NYSE:XOM) is a Texas-based oil company that ranks next on our list of the best blue-chip stocks to buy in 2022. Energy prices are soaring since the Russian invasion of Ukraine, and as the second-largest oil company in the world, Exxon Mobil Corporation (NYSE:XOM) is expected to remain one of the most comfortable stocks for investors. The firm has grown its dividend payments for 38 years in a row and offers a healthy yield of 4.46% as of March 17.
Investors are eager on Exxon Mobil Corporation (NYSE:XOM) shares, with 71 hedge funds being bullish on the company shares in the fourth quarter, with a combined value of $5.38 billion. In comparison, 64 hedge funds held positions in Exxon Mobil Corporation (NYSE:XOM) in the third quarter. GQG Partners was the top shareholder in the Texas firm, holding 32.4 million shares worth $1.98 billion in the fourth quarter, signaling a 22% increase in holding over the preceding quarter.
On March 3, BMO Capital analyst Phillip Jungwirth kept a ‘Market Perform’ rating on Exxon Mobil Corporation (NYSE:XOM) shares and raised the price target to $86 from $73. Jungwirth noted that although the firm reaffirmed many of the same financial targets on their Investor Day, he sees the company well-positioned to drive further operating cost and capital efficiency gains. This and an ‘industry-leading pipeline of projects will contribute to strong earnings and cash flow growth, according to the BMO Capital analyst. As of March 18, shares of Exxon Mobil Corporation (NYSE:XOM) have surged 39.02% in the last 12 months, and 47.10% in the last 6 months.
In the fourth quarter of 2021, Exxon Mobil Corporation (NYSE:XOM) posted an EPS of $2.05, which exceeded consensus estimates by $0.11. Revenue for the quarter was recorded at $84.97 billion, beating analysts’ estimates by $6.24 billion and recording an increase of 82.56% year-on-year.
Investment firm Saturna Capital discussed Exxon Mobil Corporation (NYSE:XOM) in its Q4 2021 investor letter. The fund said:
“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon, which appeared decennially from 1980 through 2010. In 2019 it was ranked 10th, but as of writing has dropped to 39th place.”
