5 Best DRIP Stocks To Buy in 2022

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

Dividend Yield as of April 25: 4.13%

Exxon Mobil Corporation (NYSE:XOM) has been consistent with benefitting its investors by providing them stable dividends for over 39 years, boasting an average annual growth rate of 6%. As of April 25, the stock’s forward yield sits at 4.13%, with its trailing twelve-month returns peaking at 47.23%. It is one of the best DRIP stocks to buy in 2022.

On February 1, 2022, Exxon Mobil Corporation (NYSE:XOM) reported that its earnings per share for the fiscal fourth quarter of 2021 came to $2.05, beating EPS estimates by $0.11. The company reported quarterly revenues of over $84 billion, up 82.56% year over year, and beat revenue estimates by $6.24 billion.

This April, Truist analyst Neal Dingmann raised his price target on Exxon Mobil Corporation (NYSE:XOM) to $84 from $75 and reiterated a Hold rating on the shares. The analyst views the stock to benefit from soaring commodity prices, effectively driving lucrative shareholder returns.

Exxon Mobil Corporation (NYSE:XOM) is rising in popularity among analysts and hedge funds investors. At the close of the fourth quarter of 2021, 71 hedge funds were long Exxon Mobil Corporation (NYSE:XOM) with stakes of $5.38 billion. This is compared to 64 positions in the third quarter of 2021, with stakes of $4.64 billion.

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 which represents 4.91% of GQG Partners’ 13F portfolio.

Saturna Capital shared its insights on Exxon Mobil Corporation (NYSE:XOM) in the firm’s fourth-quarter 2021 investor letter. Here is 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.”