5 Best Energy Dividend Stocks To Invest In

2. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 67
Dividend Yield as of February 25: 5.07%

ConocoPhillips (NYSE:COP) specializes in petroleum refineries and crude oil. The company is headquartered in Texas, US. Highlighting the company’s Q4 earnings, Barclays raised its price target on the stock in January to $160 with an Overweight rating on the shares.

On February 2, ConocoPhillips (NYSE:COP) declared a quarterly dividend of $0.51 per share, which remained consistent with its previous dividend. The company also announced a variable return of cash of $0.60 per share, which is payable on April 14. It has been regularly paying dividends to shareholders since 1993, which places it as one of the best energy dividend stocks on our list.

At the end of December 2022, 67 hedge funds tracked by Insider Monkey held stakes in ConocoPhillips (NYSE:COP), up from 64 in the previous quarter. These stakes have a consolidated value of roughly $3 billion.

ClearBridge Investments mentioned ConocoPhillips (NYSE:COP) in its Q4 2022 investor letter. Here is what the firm has to say:

“The risk-on environment supported by China reopening drove strong returns for the energy sector, despite underlying commodity prices falling from recent highs. In the portfolio, leading E&P company ConocoPhillips (NYSE:COP) was again among the top contributors; it maintains one of the best balance sheets in the industry and continues to execute well while benefiting from being a low-cost producer and growing liquefied natural gas demand. ConocoPhillips is also investing in field electrification and carbon capture across its portfolio, with ambitions to deliver oil production with industry-low CO2 intensity.”