12 Best Energy Stocks to Invest In According to Billionaires

6. ConocoPhillips (NYSE:COP)

Number of Billionaire Holders: 16

ConocoPhillips (NYSE:COP) is the largest independent exploration and production company in the world, based on proved reserves and production of liquids and natural gas.

ConocoPhillips (NYSE:COP) has transformed itself into a low-cost oil producer by selling its higher-cost oil assets and recycling that capital into acquiring lower-cost resources. The company capped off this transformation with the $22.5 billion acquisition of Marathon Oil last year, which added high-quality, low-cost supply inventory to its portfolio. As a result, COP now has over 20 billion barrels of resources with an average cost of supply at $32 per barrel.

ConocoPhillips (NYSE:COP) outperformed expectations in Q4 2024 as its adjusted EPS of $1.98 was above estimates by $0.15. The company’s revenue of $14.74 billion, though down 3.72% YoY, still topped consensus by almost $515 million. COP also generated $20.3 billion in cash from operations in 2024 and announced an ordinary dividend of $0.78 per share for Q1 of 2025. ConocoPhillips has grown its dividend for 10 consecutive years and wants to pursue a more aggressive shareholder return policy in 2025, with planned returns of $10 billion, including $6 billion in buybacks.

ConocoPhillips (NYSE:COP) has an annual dividend yield of 3.06% as of March 22, 2024, putting it among the 13 Best Natural Gas and Oil Dividend Stocks To Buy.