5 LNG Shipping Stocks to Buy Now

2. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 56    

ConocoPhillips (NYSE:COP) produces and transports oil, natural gas and natural gas liquids. The firm owns stakes in several LNG projects. These include Australia Pacific LNG, Darwin LNG, and Qatargas 3, among others. The firm has more than five decades of experience in the LNG sector and is one of the top beneficiaries of the surge in LNG prices amid the Russian invasion of Ukraine. The stock also offers the added benefit of steady dividend payouts with the firm consistently paying a dividend to shareholders for the past 32 years. 

On March 31, Mizuho analyst Vincent Lovaglio kept a Buy rating on ConocoPhillips (NYSE:COP) stock and raised the price target to $150 from $115. Other investment advisors like Barclays, Bank of America, and RBC Capital are also bullish on the stock. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in ConocoPhillips (NYSE:COP) with 6 million shares worth more than $447 million. 

In its Q4 2021 investor letter, ClearBridge Investments highlighted a few stocks and ConocoPhillips (NYSE:COP) was one of them. Here is what the fund said:

“Our energy and financials holdings kept pace in the 2021 rally. Within energy, ConocoPhillips (NYSE:COP) continues to leverage its strong balance sheet and cost-advantaged acreage position in the prolific Permian Basin by making an opportunistic acquisition of assets from Royal Dutch Shell, further solidifying its strong Permian footprint.”