12 Best Oil and Gas Dividend Stocks According to Billionaires

2. ConocoPhillips (NYSE:COP)

Number of Billionaire Holders: 16

Dividend Yield as of March 28: 3.03%

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) had a strong Q4 2024 as its adjusted EPS of $1.98 beat expectations by $0.15. The company’s revenue of $14.74 billion also topped estimates by almost $515 million, despite being down 3.72% YoY. COP’s output has witnessed a sharp increase following its acquisition of Marathon Oil last year, which added high-quality, low-cost supply inventory to its portfolio. As a result, the company’s production rose 14.8% YoY to 2.183 million boed in Q4 2024.

ConocoPhillips (NYSE:COP) generated $20.3 billion in cash from operations in 2024 and returned $9.1 billion to its shareholders, representing 45% of CFO and well above its 30% commitment. Following a 34% increase in October, the company’s quarterly dividend now stands at $0.78 per share. ConocoPhillips has grown its dividend for 10 consecutive years and targets returns of $10 billion in 2025, including $6 billion in buybacks.

COP was recently included in our list of the 7 Most Undervalued Dividend Stocks to Buy According to Hedge Funds.