5 Best Cyclical Stocks For Inflation

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

This February, Exxon Mobil Corporation (NYSE:XOM) released earnings for the fiscal fourth quarter of 2021 in which the company beat on both EPS and revenue. The company reported earnings per share of $2.05, outperforming market consensus by $0.11. The company’s revenue grew by 82.56% for the quarter, and came to $84.97 billion, beating revenue estimates by $6.24 billion. As of March 31, 2022, Exxon Mobil Corporation (NYSE:XOM) has gained 35.55% over the past six months. Even though economies are setting decade-long targets on achieving net-zero carbon emissions and going green, crude oil will maintain its stronghold on economies and oil stocks are bound to benefit from price hikes and economic expansions.

Soaring crude oil prices as a consequence of global economic expansion is inviting bullish trends for the energy sector from investors. Exxon Mobil Corporation (NYSE:XOM) is attracting elite hedge funds and analysts alike. On March 9, 2022, Barclays analyst Jeanine Wai raised her price target on Exxon Mobil Corporation (NYSE:XOM) to $98 from $91 and reiterated an Overweight rating on the shares. By the end of the fourth quarter of 2021, 71 hedge funds held stakes in the company worth more than $5.38 billion. This is compared to 64 positions in the previous quarter, with stakes amounting to $4.64 billion. The hedge fund sentiment for the stock is positive.

As of December 31, 2021, GQG Partners is the most prominent shareholder in Exxon Mobil Corporation (NYSE:XOM). The fund’s stakes in the company amounted to $1.98 billion, a 22% increase from the fund’s previous stakes of $1.56 billion. The investment covers 4.91% of GQG Partners’ 13F portfolio.

Saturna Capital mentioned Exxon Mobil Corporation (NYSE:XOM) in its fourth-quarter 2021 investor letter, here’s what the firm had 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.”