Top 5 Oil and Gas Stocks To Invest In According to Hedge Funds

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

Exxon Mobil Corporation (NYSE:XOM) is an American oil and gas company and is the top oil and gas stock to invest in according to hedge funds as 79 hedge funds had a stake worth $7.1 billion in the company in the fourth quarter of 2022. It is also one of our top safe stocks to buy for beginners.

In the last three months, Exxon Mobil Corporation (NYSE:XOM) has been covered by 18 analysts with an average price target of slightly over $128. Out of the 18 analysts, 11 maintain a Buy or Overweight rating on the company stock.

Exxon Mobil Corporation (NYSE:XOM) is a dividend stock with a history of dividend increases over the last 4 decades. The company paid out its latest quarterly dividend of $0.91 on March 10 and the next one is expected to be paid out in June.

Here’s what First Eagle Investments said about Exxon Mobil Corporation (NYSE:XOM) in its Q2 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 the 12 High Margin Products to Sell Online and 20 Best Countries to Retire Overseas Where English is Spoken.

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