5 Dividend Aristocrats with Over 3% Yield

2. Exxon Mobil Corporation (NYSE:XOM)

Dividend Yield as of January 25: 4.69%

Number of Hedge Fund Holders: 64

Number of Years of Consecutive Dividend Increases: 39

An American multinational oil and gas company, Exxon Mobil Corporation (NYSE:XOM) is a notable descendant of Rockefeller’s Standard Oil. Headquartered in Irving, Texas, Exxon Mobil Corporation (NYSE:XOM) specializes in crude oil, oil products, natural gas, petrochemicals, and power generation. Exxon Mobil Corporation (NYSE:XOM) announced its ambition for net zero greenhouse gas emissions by 2050 on January 18.

On October 27, Exxon Mobil Corporation (NYSE:XOM) declared a $0.88 per share quarterly dividend, which is a 1.1% increase from its prior dividend of $0.87. The dividend was distributed on December 10, to shareholders of record on November 12. 

Offering a dividend yield of 4.59% as of January 25, Exxon Mobil Corporation (NYSE:XOM) has consecutively raised its dividends for 39 years, making it a notable dividend aristocrat to invest in. 

RBC Capital analyst Biraj Borkhataria on January 19 upgraded Exxon Mobil Corporation (NYSE:XOM) to Sector Perform from Underperform with a price target of $90, up from $70. The analyst has been concerned with Exxon Mobil Corporation (NYSE:XOM)’s position in the investment cycle relative to its peers, but now he believes that the overall tailwinds for the sector are likely to outweigh company specific factors in 2022. 

GQG Partners is the largest Exxon Mobil Corporation (NYSE:XOM) stakeholder, with 26.5 million shares worth $1.56 billion. In the third quarter of 2021, 64 hedge funds tracked by Insider Monkey were bullish on Exxon Mobil Corporation (NYSE:XOM), down from 68 funds in the preceding quarter. 

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

“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.”