5 Best Stocks to Buy for Deflation

03. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders as of Q3, 2022: 75

Exxon Mobil Corporation (NYSE:XOM) is a diversified energy company that not only produces crude oil and gas but is also expanding its presence in the renewables arena. Exxon Mobil Corporation (NYSE:XOM) raked in $19.6 billion in profits during this year’s third quarter, its highest earnings in history due to price pressure from the Ukraine invasion. Exxon Mobil Corporation (NYSE:XOM) has a 40-year run of raising its dividends. It currently offers a per-share dividend of $0.91 every quarter, with a dividend yield of 3.35%, as of December 27.

By the end of Q3 2022, 75 of the 920 hedge funds polled by Insider Monkey had bought Exxon Mobil Corporation (NYSE:XOM)’s shares. Exxon Mobil Corporation (NYSE:XOM)’s largest shareholder is Rajiv Jain’s GQG Partners, which owns 33 million shares worth $2.9 billion.

First Eagle Investments mentioned Exxon Mobil Corporation (NYSE:XOM) in their second-quarter 2022 investor letter. Here are the details:

“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industrywide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”