5 Chemical Dividend Stock with Over 2% Yield

3. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 64
Dividend Yield as of December 12: 5.59%

Exxon Mobil Corporation (NYSE:XOM) is one of the largest energy and chemical companies in the world that specializes in the conversion of crude oil and natural gas into petrochemicals. Though the company saw a decline in the number of hedge funds holding stakes in it in Q3, Wall Street analysts remained bullish on the stock. Recently, both JPMorgan and Barclays raised their price targets on Exxon Mobil Corporation (NYSE:XOM), to $83 and $73, respectively, with both appreciating the growth in the company’s free cash flow.

Exxon Mobil Corporation (NYSE:XOM) has been consistently increasing its dividend for the past 37 years, which makes it one of the best chemical dividend stocks. As of the close of December 12, Exxon Mobil Corporation (NYSE:XOM) surged 48.5% year-to-date, while its 12-month returns came in at 45.9%. The company’s CEO expects to double earnings and cash flow by 2025 from 2017 levels.

At the end of Q3, 64 hedge funds tracked by Insider Monkey held stakes in Exxon Mobil Corporation (NYSE:XOM), valued at $4.6 billion. This is in comparison with Q2 when 68 hedge funds owned $3.6 billion worth of stakes in the company. GQG Partners was the largest shareholder of the Texas-based company in Q3, holding shares worth $1.5 billion.

First Eagle Investment Management mentioned Exxon Mobil Corporation (NYSE:XOM) in its Q2 2021 investor letter. Here is what the firm has to say:

“Leading contributors in the First Eagle Global Fund this quarter included Exxon Mobil Corporation. The continued recovery in oil prices as economies reopen helped fuel another strong performance across the energy complex, including shares of Exxon Mobil. Exxon Mobil recently lost a proxy fight with an activist investor that took three of the company’s 12 board seats. While the press was focused on the investor’s concerns over Exxon Mobil’s long term energy transformation strategy, other factors fundamental to shareholder returns—like capital discipline and balance sheet management—were also at play.”