13 Best Cheap Dividend Stocks To Buy Right Now

6. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 86

Forward P/E Ratio: 10.01

ConocoPhillips (NYSE:COP) is an American multinational energy company, headquartered in Texas. The company is engaged in hydrocarbon exploration and production. In the fourth quarter of 2024, it saw a significant rise in production, with output increasing by 14.8% year-over-year to 2,183 thousand barrels of oil equivalent per day (MBOED). This growth was largely fueled by strategic acquisitions, including the completion of its Marathon Oil acquisition in November 2024. Financially, the company remained strong, generating $20.1 billion in operating cash flow for the year, with total cash from operations reaching $20.3 billion.

Recently, ConocoPhillips (NYSE:COP) has prioritized enhancing operational efficiency and expanding its LNG business. Its strong performance has been supported by disciplined cost management, seamless integration of acquisitions, and advancements in low-carbon technologies. As part of its sustainability efforts, the company earned the Oil and Gas Methane Partnership 2.0 Gold Standard in 2024, highlighting its commitment to reducing emissions.

ConocoPhillips returned $3.6 billion to shareholders through dividends. Following a 34% increase in October, its quarterly dividend now stands at $0.78 per share. With 10 consecutive years of dividend growth, it is one of the best dividend stocks on our list. The stock has a dividend yield of 3.52%, as of March 6.