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

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1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

Exxon Mobil Corporation (NYSE:XOM) is engaged in the exploration and production of crude oil and natural gas globally. Operating through Upstream, Energy Products, Chemical Products, and Specialty Products segments, the company explores, produces, manufactures, and markets various energy-related products. Exxon Mobil Corporation (NYSE:XOM) is one of the best oil and gas stocks to buy. 

On February 2, Exxon Mobil Corporation (NYSE:XOM) declared a quarterly dividend of $0.95 per share, in line with previous. The dividend is payable on March 11, to shareholders of record on February 14. 

According to Insider Monkey’s third quarter database, 79 hedge funds were bullish on Exxon Mobil Corporation (NYSE:XOM), compared to 71 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the largest stakeholder of the company, with over 13 million shares worth $1.5 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 Corporation (NYSE:XOM) 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 industry wide 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.”

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