25 Best Dividend Stocks to Buy According to Billionaires

12. ConocoPhillips (NYSE:COP)

Number of Billionaire Investors: 16

Dividend Yield as of March 3: 3.27%

ConocoPhillips (NYSE:COP) is a Texas-based multinational energy company that is engaged in hydrocarbon exploration and production. The company has recently focused on improving operational efficiency and expanding its LNG business. Its performance has been driven by disciplined cost management, smooth integration of acquisitions, and progress in low-carbon technologies. Reinforcing its commitment to reducing emissions, the company earned the Oil and Gas Methane Partnership 2.0 Gold Standard in 2024.

In the fourth quarter of 2024, ConocoPhillips (NYSE:COP) achieved strong production growth, with output rising 14.8% year-over-year to 2,183 thousand barrels of oil equivalent per day (MBOED). This increase was primarily driven by strategic acquisitions, including the completion of its Marathon Oil purchase in November 2024. The company also maintained a strong financial position, generating $20.1 billion in operating cash flow for the year, with total cash from operations reaching $20.3 billion.

ConocoPhillips (NYSE:COP) returned $3.6 billion to shareholders through dividends. It currently offers a quarterly dividend of $0.78 per share, following a 34% increase in October. This latest hike extends its streak of 10 consecutive years of dividend growth, which makes it one of the best dividend stocks on our list. As of March 3, the stock has a dividend yield of 3.27%.