5 Best Dividend Aristocrat Stocks To Buy Now

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 79

A Texas-based energy company, Exxon Mobil Corporation (NYSE:XOM) is next on our list of the best dividend aristocrat stocks on our list. The company recently announced the startup of its $2 billion Beaumont refinery project, which will enhance capacity for transportation fuels by 250,000 barrels per day at the facility. The construction of the project began in 2019.

In March, Mizuho raised its price target on Exxon Mobil Corporation (NYSE:XOM) to $147 with a Buy rating on the shares, presenting a positive stance on the energy companies.

Exxon Mobil Corporation (NYSE:XOM) has been raising its dividends consistently for the past 40 years. The company offers a quarterly dividend of $0.91 per share for a dividend yield of 3.55%, as recorded on March 20.

At the end of Q4 2022, the number of hedge funds owning stakes in Exxon Mobil Corporation (NYSE:XOM) grew to 79, from 75 a quarter earlier, according to Insider Monkey’s Q4 data. These stakes have a consolidated value of over $7.1 billion.

Follow Exxon Mobil Corp (NYSE:XOM)