5 Dividend Stocks to Buy According to Jim Simons’ Renaissance Technologies

4. Exxon Mobil Corporation (NYSE:XOM)

Renaissance Technologies Stake Value: $612,907,000

American natural gas and energy company Exxon Mobil Corporation (NYSE:XOM) was assumed with an ‘Outperform’ rating at Credit Suisse in August, with a $125 price target. The firm acknowledged the company’s momentum-building and portfolio investments over the past few years.

Renaissance Technologies resumed its position in Exxon Mobil Corporation (NYSE:XOM) during the first quarter of 2021, purchasing shares worth over $162 million. In Q2 2022, the hedge fund increased its stake in the company by 12%, with its total investment amounting to nearly $613 million. The company represented 0.72% of Jim Simons’ portfolio.

On July 27, Exxon Mobil Corporation (NYSE:XOM) declared a quarterly dividend of $0.88 per share, in line with its previous dividend. The company has paid dividends to shareholders for over 100 years while maintaining a 39-year track record of consistent dividend growth. As of August 29, the stock’s dividend yield came in at 3.52%.

As of the end of Q2, 72 hedge funds tracked by Insider Monkey reported owning stakes in Exxon Mobil Corporation (NYSE:XOM), valued at over $7.4 billion.

Saturna Capital mentioned Exxon Mobil Corporation (NYSE:XOM) in its Q4 2021 investor letter. Here is what the firm had to say:

“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon, which appeared decennially from 1980 through 2010. In 2019 it was ranked 10th, but as of writing has dropped to 39th place.”