5 War Stocks to Buy Now According to Hedge Funds

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1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

Exxon Mobil Corporation (NYSE:XOM) is an integrated oil and gas firm. Hedge funds have been piling into the stock. At the end of the fourth quarter of 2021, 71 hedge funds in the database of Insider Monkey held stakes worth $5.3 billion in Exxon Mobil Corporation (NYSE:XOM), compared to 64 in the previous quarter worth $4.6 billion. 

Exxon Mobil Corporation (NYSE:XOM) stock has benefited from reports that the Biden administration is considering widespread sanctions against Russian oil imports, lifting crude prices to new highs. However, a new deal with Iran might offset some of these pressures as Iranian oil is pumped into the market. 

In its Q1 2021 investor letter, Harding Loevner highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. Here is what the fund said:

“We felt that our remaining energy holding, Exxon Mobil Corporation (NYSE: XOM), with its stronger balance sheet, was in a better position to ride out the cyclical slump in oil demand and even perhaps take advantage of it by investing counter-cyclically. While Exxon Mobil Corporation (NYSE: XOM) does plan to increase capital expenditure, we’ve been disappointed in its regrettable failure to address ongoing emission trends, which reflects poorly on management’s foresight. As a result, we sold our Exxon Mobil Corporation (NYSE: XOM) holdings.”

You can also take a peek at 10 Stocks For Passive Income In 2022 and 10 Most Popular Green Energy Stocks Among Elite Hedge Funds.

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