5 Best Energy Dividend Stocks to Buy Now

2. ConocoPhillips (NYSE:COP)

Dividend Yield as of October 23: 3.57%

ConocoPhillips (NYSE:COP) is a Texas-based natural gas liquids company that also deals in the exploration and production of hydrocarbons. Since the beginning of this year, the stock has delivered a 68.7% return to shareholders, while its 12-month returns came in at 62.6%, as of the close of October 21.

ConocoPhillips (NYSE:COP) is one of the best dividend stocks on our list as the company has been making consistent dividend payments since 1993. It currently pays a quarterly dividend of $0.46 per share and has a dividend yield of 3.57%, as of October 23.

In October, Citigroup raised its price target on ConocoPhillips (NYSE:COP) to $132 with a Buy rating on the shares, ahead of the company’s Q3 results.

At the end of Q2, 71 hedge funds tracked by Insider Monkey owned stakes in ConocoPhillips (NYSE:COP), up from 67 in the previous quarter. The collective value of those stakes was over $2.42 billion. With over 6.7 million shares, Fisher Asset Management owned the largest position in the energy company in Q2.

Smead Capital Management mentioned ConocoPhillips (NYSE:COP) in its Q3 2022 investor letter. Here is what the firm has to say:

“Our top-performing stocks in the quarter includes Conoco (NYSE:COP). Oil and gas have been the best game in the stock market town this year and it was a pleasant surprise to see home builders pick up even with dour news on interest rates and the economy. For the first three quarters of the year, we should change the name of our fund to the Jed Clampett Fund. Conoco (NYSE:COP) was one of the standouts. Up through the bear market came a “bubblin’ crude!””