5 Best Nuclear Energy Stocks To Buy Today

1. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 64

ConocoPhillips (NYSE:COP) is a traditional energy company working to delve into the nuclear energy sector. The company’s Conquista Project has been developed and operated as a mill for the processing of uranium bearing ore from conventional surface mines in Texas.

Citigroup analyst Alastair Syme reiterated a Buy rating on ConocoPhillips (NYSE:COP) on November 22.

The company has an implied capital return of over 9.5% as of this Novermber. ConocoPhillips (NYSE:COP) also had free cash flow of $4.7 billion in the third quarter of 2022, meaning the company can buy back all its debt with the $10.7 billion of cash on its balance sheet.

Out of 920 hedge funds tracked in the third quarter, 64 funds were long ConocoPhillips (NYSE:COP). Their total stake value was $2.7 billion.

ClearBridge Investments, an investment management company, mentioned ConocoPhillips (NYSE:COP) in its third-quarter 2022 investor letter. Here’s what the firm said:

“ConocoPhillips (NYSE:COP) handily outperformed the energy sector, which led the value benchmark. Its exposure to natural gas helped the stock perform more in line with natural gas E&Ps, which led the sector due to the European energy crisis and U.S. shale gas being considered a secure long-term source of liquid natural gas. In addition to COP’s low-cost resource base, conservative balance sheet and experienced management team, we appreciate its strong focus on ESG measures, which we believe is a good indicator of the quality of a company’s business model and management team.

Specifically, we appreciate solid governance practices with compensation metrics emphasizing ROCE and relative total shareholder return, the board’s effective oversight of management as well as the company’s methane flaring leadership. COP is investing in field electrification and carbon capture across its portfolio, with ambitions to deliver oil production with a CO2 intensity of sub-5 kg/BOE, which would be one of the lowest emission sources of supply in the world.”

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