5 Best LNG and LNG Shipping Stocks to Buy Now

02. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders as of Q2, 2022: 71

ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas. ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company is one of the most prominent energy stocks to invest in.

ConocoPhillips (NYSE:COP) has been paying continuous dividends to shareholders since 1993. It currently pays a quarterly dividend of $0.46 per share with a dividend yield of 2.51%, as of October 13. On October 5, Hans Engel, an analyst at Erste Group, raised ConocoPhillips from Hold to Buy. In a research note, Engel informs investors that the company is gaining from the increase in global energy prices and that its operating margins should stay “very high” in 2023. He anticipates that the stock will do better than the global sector index.

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.

Diamond Hill Capital mentioned ConocoPhillips (NYSE:COP) in its Q1 2022 investor letter. Here is what the firm had to say:

“We redeployed capital into ConocoPhillips (NYSE:COP), which was trading at a discount to our estimate of intrinsic value and is well positioned over the long run due to its low-risk asset base.”