Goldman Sachs Energy Stocks: Top 5 Stock Picks

In this article, we discuss the top 5 Goldman Sachs energy stocks. If you want to read our detailed discussion on the energy sector, head directly to Goldman Sachs Energy Stocks: Top 12 Stock Picks. 

5. Exxon Mobil Corporation (NYSE:XOM)

Goldman Sachs’ Stake Value: $1,683,822,726

Number of Hedge Fund Holders: 71

Exxon Mobil Corporation (NYSE:XOM) is one of the top Goldman Sachs energy stocks. Securities filing for Q2 2023 reveal that Goldman Sachs owned 15.7 million shares valued at $1.68 billion, representing 0.33% of the total portfolio. On August 14, Exxon Mobil Corporation (NYSE:XOM) declared a $0.91 per share quarterly dividend, in line with previous. The dividend is payable on September 11, to shareholders of record on August 16. 

According to Insider Monkey’s second quarter database, 71 hedge funds were long Exxon Mobil Corporation (NYSE:XOM), compared to 73 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the leading position holder in the company, with 13.3 million shares worth $1.4 billion. 

Here is what First Eagle Investments said about Exxon Mobil Corporation (NYSE:XOM) in its Q2 2022 investor letter:

“Integrated oil and gas giant Exxon Mobil performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industry wide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”