5 Best Bear Market Stocks to Buy According to Morgan Stanley

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 83

Exxon Mobil Corporation (NYSE:XOM) was the only stock from the energy sector added by Morgan Stanley to its list of best bear market stocks. The firm lifted its price target on the stock to $105. Since the beginning of the year, XOM gained 64.6%, while the stock delivered a 68.3% return to shareholders in the past year.

In Q1 2022, Exxon Mobil Corporation (NYSE:XOM) reported revenue of $90.5 billion, surpassing estimates by $6.93 billion. However, its earnings per share of $2.07 missed consensus by $0.16.

Of the 900+ elite funds tracked by Insider Monkey, 83 funds presented a bullish stance on Exxon Mobil Corporation (NYSE:XOM) in Q1 2022, compared with 71 a quarter earlier. The consolidated value of these stakes is over $8.5 billion. Rajiv Jain, Ken Griffin, and Jim Simons are some of the major stakeholders of the company at the end of March 2022.

Exxon Mobil Corporation (NYSE:XOM) is a Dividend Aristocrat, raising its payouts consistently for the past 39 years. It currently offers a quarterly dividend of $0.88 per share, with a dividend yield of 3.36%, recorded on June 8. In June, Evercore ISI lifted its price target on Exxon Mobil Corporation (NYSE:XOM) to $120, with an Outperform rating on the shares.

Saturna Capital mentioned Exxon Mobil Corporation (NYSE:XOM) in its Q4 2021 investor letter. Here is what the firm has to say:

“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.”