5 Best Income Stocks to Buy According to Analysts

1. ConocoPhillips (NYSE:COP)

Upside Potential as of May 1: 29.3%
Average Price Target Based on Analyst Ratings: $133.1

ConocoPhillips (NYSE:COP) is an American multinational energy company. It tops our list of the best dividend stocks and currently pays a quarterly dividend of $0.51 per share. It has been making regular dividend payments since 1993 and also maintains a seven-year streak of consistent dividend growth. The stock’s dividend yield on May 1 came in at 5.19%.

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.

Oakmark Funds mentioned ConocoPhillips (NYSE:COP) in its Q1 2023 investor letter. Here is what the firm has to say:

“ConocoPhillips (NYSE:COP) is one of the largest and lowest cost U.S. exploration and production companies in the country, led by CEO Ryan Lance—in our view one of the best value creators in the industry. ConocoPhillips’s share prices fell in the first quarter as oil prices receded, which is not atypical. We were buying the company at prices where it could generate its entire market cap in free cash flow over the next decade while growing the production such that at the end of that time, the base of production would be one-third higher. This sort of reinvestment opportunity is unique to ConocoPhillips and clearly not reflected in the current share price.”

You can also take a look at 15 Best Very Cheap Stocks to Buy Right Now and 15 Major Cities That Have the Cheapest Rent in the U.S.

Follow Insider Monkey on Twitter