Dividend Aristocrats Ranked: Top 5 According To Hedge Funds

4. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 75

Exxon Mobil Corporation (NYSE:XOM) is a Texas-based oil and gas company that specializes in the distribution of natural gas. The company’s cash generation remained strong in Q3 2022 with an operating cash flow of $24.4 billion and a free cash flow of $19.7 billion. It generated over $112 billion in revenue during the quarter, up 52% from the same period last year.

In January, Mizuho raised its price target on Exxon Mobil Corporation (NYSE:XOM) to $140 with a Buy rating on the shares, calling the company its Top Pick in the energy sector for 2023.

Exxon Mobil Corporation (NYSE:XOM) is among the best dividend stocks according to hedge funds as the company has been raising its payouts for the past 40 years. It currently pays a quarterly dividend of $0.91 per share and has a dividend yield of 3.22%, as of January 18.

As of the close of Q3 2022, 75 hedge funds tracked by Insider Monkey owned stakes in Exxon Mobil Corporation (NYSE:XOM), up from 72 in the previous quarter. The collective value of these stakes is $5.5 billion. Rajiv Jain’s GQG Partners was the company’s leading stakeholder in Q3.