5 Best Blue Chip Dividend Stocks to Buy According to Hedge Funds

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 94

Dividend Yield as of July 5: 3.01%

Exxon Mobil Corporation (NYSE:XOM) is one of the largest integrated fuels, lubricants, and chemical companies in the world.

On July 2, TD Cowen trimmed its price target on Exxon Mobil Corporation (NYSE:XOM) from $172 to $155, but reiterated a ‘Buy’ rating on the shares. The lowered estimate, which still indicates an upside of 13% from the current levels, comes after the analyst firm revised its targets in the oil majors space as part of a Q2 earnings preview.

TD Cowen believes that the recent “rapid correction” in crude oil prices and equities following the signing of an MoU between the US and Iran has created “pockets of opportunity” in the sector. The firm said that it prefers Shell, Chevron, and TotalEnergies as we head into the Q2 earnings season.

Exxon Mobil Corporation (NYSE:XOM) has grown its annual dividend-per-share for 43 consecutive years and boasts a robust yield of 3.01% as of the writing of this piece, putting it among the 12 Best S&P 500 Stocks to Buy for Dividends.