5 Best Oil and Gas Stocks to Buy According to Hedge Funds

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 94

Exxon Mobil Corporation (NYSE:XOM) is one of the largest integrated fuels, lubricants, and chemical companies in the world.

On May 27, Mizuho hiked its price target on Exxon Mobil Corporation (NYSE:XOM) from $159 to $175, but maintained its ‘Neutral’ rating on the shares. The target boost indicates an upside of 24% from the current share price.

According to Mizuho, the Middle East conflict can have a prolonged impact on the global oil prices and refining margins. As a result, it raised its oil price outlook for 2026 and 2027 by 25% and 6%, respectively. The firm also increased its forecast for US refining cracks by 61% and 51%.

Similarly, earlier on May 26, Barclays analyst Betty Jiang also lifted the firm’s price target on Exxon Mobil Corporation (NYSE:XOM) from $163 to $182, while keeping an ‘Overweight’ rating on the shares. The revision comes after the firm adjusted its rating and price targets across the integrated oil and E&P group.

With an impressive annual dividend yield of 2.84%, Exxon Mobil Corporation (NYSE:XOM) was also recently included in our list of the 12 Best Blue Chip Dividend Stocks to Buy Now.

1281292 - 11759070 - 1