5 LNG Stocks to Watch Amid Ukraine Crisis

2. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 56    

ConocoPhillips (NYSE:COP) is a Texas-based diversified energy company. The company has been selling non-core assets to reduce debt and benefit from surging oil prices. This trend is likely to continue in the coming months as talks between Russia and Ukraine after a military campaign by Moscow stall and investors prepare for the worst. 

Elite hedge funds remain bullish on ConocoPhillips (NYSE:COP) 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 Q1 2021 investor letter, ClearBridge Investments highlighted a few stocks and ConocoPhillips (NYSE:COP) was one of them. Here is what the fund said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) ConocoPhillips. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”