5 Best Dividend Stocks to Buy According to Billionaire Richard Chilton

3. Exxon Mobil Corporation (NYSE: XOM)

Chilton’s Stake Value: $297,000
Percentage of Richard Chilton’s 13F Portfolio: 0.001%
Dividend Yield: 5.74%
No. of Hedge Fund Holders: 63

Exxon Mobil Corporation (NYSE: XOM) is a U.S. company that deals with the exploration and production of crude oil products in the United States and worldwide. It operates through Upstream, Downstream, and Chemical segments. The stock ranks 3rd in the list of best dividend stocks to buy based on Richard Chilton’s Q1’2021 portfolio.

The Iraq government recently requested to buy 32.7% of the company’s stake in West Qurna 1, one of the largest oilfields in Iraq. The company is selling its stake in the oil fields in order to reduce the massive debt accumulated in 2020. 

A consortium made up of Exxon Mobil Corporation (NYSE: XOM), Royal Dutch Shell, Air Liquide, and Air Products has been granted subsidies amounting to $2.4 billion by the Dutch government to set up what could become the largest carbon capture and storage projects in the world. The group requested the subsidies to put up the project expected to capture carbon produced by refineries and factories in the Rotterdam port area. The captured CO2 will be stored in empty Dutch gas fields in the North Sea.

Exxon Mobil Corporation (NYSE: XOM) announced $2.7 billion, or $0.64 per share, earnings for Q1 2021 compared to a loss of $610 million reported in Q1 2020. The company’s capital and exploration expenditures during the quarter amounted to $3.1 billion, which is a drop of $4 billion from Q1 2020. The Q1 2021 results included unfavorable identified items of $31 million, or $0.01 per share, assuming dilution.

Harding Loevner, in its Q1 2021 investor letter, mentioned Exxon Mobil Corporation (NYSE: XOM). Here is what Harding Loevner has to say about Exxon Mobil Corporation in its letter:

“We felt that our remaining energy holding, ExxonMobil, with its stronger balance sheet, was in a better position to ride out the cyclical slump in oil demand and even perhaps take advantage of it by investing counter-cyclically. While ExxonMobil does plan to increase capital expenditure, we’ve been disappointed in its regrettable failure to address ongoing emission trends, which reflects poorly on management’s foresight. As a result, we sold our ExxonMobil holdings.”