5 Best Performing Dividend Stocks in 2022

1. ConocoPhillips (NYSE:COP)

Dividend Yield as of December 21: 4.46%

ConocoPhillips (NYSE:COP) is a Texas-based petroleum refineries company that produces crude oil. In December, Piper Sandler raised its price target on the stock to $157 with an Overweight rating on the shares, appreciating the company’s performance this year.

ConocoPhillips (NYSE:COP) pays a quarterly dividend of $0.51 per share, having raised it by 11% in November. The company has been making regular dividend payments to shareholders since 1993. Its consistent dividend policy makes it one of the best dividend stocks on our list. The stock has a dividend yield of 4.46%, as of December 21.

As of the close of Q3 2022, 64 hedge funds in Insider Monkey’s database owned stakes in ConocoPhillips (NYSE:COP), worth over $2.66 billion collectively.

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

“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.”

You can also take a look at Best Dogs of the Dow Stocks Ranked By Hedge Fund Sentiment and 10 Biggest Dividend Cuts and Suspensions of 2022

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