In this article, we will be looking at the 5 most popular dividend stocks on Robinhood. You can see our detailed analysis of these stocks and go directly to the 10 Most Popular Dividend Stocks on Robinhood.
5 Most Popular Dividend Stocks on Robinhood
5. Exxon Mobil Corporation (NYSE:XOM)
Dividend Yield: 4.37%
Oil and gas giant Exxon Mobil Corporation (NYSE:XOM) got upgraded to Buy from Hold this February by Argus analyst, Bill Selesky. The analyst gave the stock a price target of $92 in light of the company’s fourth-quarter 2021 performance. The company announced earnings per share of $2.05, beating estimates by $0.11, and generated $84.97 billion in quarterly revenues. The company’s revenue saw year-over-year growth of 82.56% and beat revenue estimates by $6.24 billion.
On January 26, 2022, Exxon Mobil Corporation (NYSE:XOM) declared a quarterly cash dividend of $0.88 per share of common stock. The dividend will be payable on March 10, 2022, to shareholders of record on February 10, 2022.
Goehring & Rozencwajg Associates published its “Natural Resource Market Commentary” third-quarter 2021 investor letter. Here’s what the firm had to say about Exxon Mobil Corporation (NYSE:XOM):
“After successfully replacing 25% of Exxon’s board of directors despite owning just 0.02% of the outstanding equity, Engine No. 1, the climate-focused activist hedge fund, met with Chevron’s management late last summer. In discussions that were later described as “cordial,” Chevron executives shared their plan to reduce carbon emissions. Subsequently, Chevron announced new plans to further reduce carbon output, along with their intention to appoint a new director with “environmental expertise.” Although it remains unclear exactly what Engine No. 1 is planning, rumors suggest the fund has contacted other investors, strongly suggesting they intend to launch a second campaign in the not-too-distant future.
What should Chevron expect?
It was recently reported by The Wall Street Journal that Exxon was considering abandoning two massive natural gas projects: the 75 trillion cubic foot (tcf ) Rovuma LNG project (capital cost $30 bn) and the 5 tcf Ca Voi Xanh offshore-Vietnam gas project (capital cost $10 bn). Exxon board members (most likely including the three supported by Engine No. 1) have publically expressed concerns about both projects.
According to internal reports, these projects are among the highest CO2 producers in Exxon’s pipeline; it is no surprise these projects have been called into question. However, we find the plight of both fields to be perplexing since production would almost certainly be used to displace coal in electricity generation, cutting CO2 emissions by nearly 50%. This fact seems to be lost on the new Exxon board members.”
