Rajiv Jain’s GQG Partners Portfolio: 5 Dividend Stock Picks

4. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71
GQG Partners’ Stake Value: $1,982,114,000
Dividend Yield as of March 14: 4.15%

GQG Partners first invested in Exxon Mobil Corporation (NYSE:XOM) during the second quarter of 2018 but soon unloaded its investment in the company. In the second quarter of 2021, the hedge fund again started building its position in XOM, buying shares worth roughly $900 million. By the end of Q4 2021, GQG Partners held shares in Exxon Mobil Corporation (NYSE:XOM) valued at $2 billion, which made it the fourth-largest holding of the hedge fund.

Of the 927 elite funds tracked by Insider Monkey which filed 13Fs for the December quarter, 71 of them held stakes in Exxon Mobil Corporation (NYSE:XOM) on December 31, which were collectively valued at $5.3 billion. In comparison, 64 hedge funds held positions in the company in the preceding quarter, with stakes worth over $4.6 billion.

Exxon Mobil Corporation (NYSE:XOM) pays a quarterly dividend of $0.88 per share, with a dividend yield of 4.15%. Over the past 39 years, the company has raised its dividend at an annual average rate of 6%. Appreciating the company’s strong production outlook, Barclays raised its price target on Exxon Mobil Corporation (NYSE:XOM) to $98 on March 9, with an ‘Overweight’ rating on the shares.

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.”