5 Best Gas Stocks To Buy Now

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

Exxon Mobil Corporation (NYSE:XOM) is the explorer and manufacturer of crude oil and natural gas globally. With a market capitalization of over $400 billion, Exxon Mobil Corporation (NYSE:XOM) invested $118 billion between 2017 and 2021 to produce global energy resources. Also, Exxon Mobil Corporation (NYSE:XOM) anticipates that international demand for energy will grow 40% from 2016 to 2040 and it will be met by natural gas. It posted Q3 adjusted earnings of $2.27 per share and revenue of $90.8 billion at the end of Sept. 30. Looking ahead, Exxon Mobil Corporation (NYSE:XOM) expects that 15% more energy will be needed by 2050 to meet the demand of 2 billion additional people and a double global economy.

“Natural gas use is projected to increase by more than 20% by 2050 given its utility as a reliable and lower-emissions source of fuel for electricity generation, hydrogen production, and heating for both industrial processes and buildings,” ExxonMobil added in its Global Outlook report for 2050.

Insider Monkey took a look at Q2 hedge fund portfolios for Exxon Mobil Corporation (NYSE:XOM) and found that 71 had stakes in the firm. Jean-Marie Eveillard’s First Eagle Investment Management was the largest stakeholder of Exxon Mobil Corporation (NYSE:XOM) which bought about 13.3 million stakes that were valued at $1.4 billion.