10 Best Stocks to Buy According to Navellier & Associates

7. ConocoPhillips (NYSE:COP)

Navellier & Associates’ Stake Value: $16,413,037

Number of Hedge Fund Holders: 62

ConocoPhillips (NYSE:COP) is a key player in the oil and gas exploration and production industry, boasting extensive assets and operations. ConocoPhillips (NYSE:COP) boosts profitability through high-margin projects and disciplined capital allocation. Strategic acquisitions, like Concho Resources, enhance its production and cost efficiency. ConocoPhillips (NYSE:COP) also expects rising oil prices to further increase revenue.

By 2026, ConocoPhillips (NYSE:COP) plans to spend $10 billion annually on capital projects and reduce debt by $5 billion, aiming to generate $115 billion in free cash flow and grow production by 5% over the next decade. ConocoPhillips (NYSE:COP) ranks 7th in Navellier & Associates’ top 10 stock picks. By the end of the first quarter of 2024, Navellier & Associates held 128,952 shares of ConocoPhillips (NYSE:COP), valued at $16,413,037. This represented 2.02% of their total portfolio, as shown in their regulatory filings.