10 Best Energy Dividend Stocks To Buy Right Now

5. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 66

ConocoPhillips (NYSE:COP) is a Texas-based multinational company that is engaged in hydrocarbon exploration and production. The company’s portfolio is diverse, encompassing unconventional oil projects in the US, conventional oil sources, liquefied natural gas (LNG) initiatives, and oil sands. With a large reserve base, it is well-positioned for sustained production and future growth, which is vital for maintaining economic stability and a competitive edge in the ever-changing energy market.

Recently, ConocoPhillips (NYSE:COP) has focused on improving operational efficiencies and expanding its LNG capabilities. Key factors driving its success include strong cost control, effective integration of acquisitions, and progress in low-carbon technologies. The company is dedicated to reducing its carbon footprint and earned the Oil and Gas Methane Partnership 2.0 Gold Standard recognition in 2024.

ConocoPhillips (NYSE:COP) saw a significant increase in production during the fourth quarter, rising 14.8% year-over-year to 2,183 thousand barrels of oil equivalent per day (MBOED). This growth was driven by successful strategic acquisitions, including the notable purchase of Marathon Oil, completed in November 2024. The company’s cash position also came in strong as it generated $20.1 billion in operating cash flow in FY24 and cash from operations amounted to $20.3 billion.

ConocoPhillips (NYSE:COP) distributed $3.6 billion to shareholders through dividends. The company offers a quarterly dividend of $0.78 per share, having raised it by 34% in October. This marked the company’s 10th consecutive year of dividend growth, which makes COP one of the best dividend stocks on our list. The stock’s dividend yield on February 8 came in at 3.17%.

According to Insider Monkey’s database of Q3 2024, 66 hedge funds were bullish on ConocoPhillips (NYSE:COP). The stakes owned by these hedge funds are worth nearly $5 billion.