5 Thrilling Stocks to Buy According to Louis Navellier

1. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 67

Navellier & Associates’ Stake Value: $15,248,432

3-year Revenue Growth: 34.19%

American oil giant ConocoPhillips (NYSE:COP) is the top holding of Louis Navellier. As of December 31, Navellier & Associates has a position worth $15.2 million in the company, which accounts for 3.1% of the fund’s 13F portfolio. With a 3-year revenue growth rate of 34.19%, ConocoPhillips (NYSE:COP) is the most thrilling stock to buy now according to Louis Navellier.

On February 2, ConocoPhillips (NYSE:COP) posted earnings for the fiscal fourth quarter of 2022. The company reported an EPS of $2.71 and generated a revenue of $19.26 billion, up 20.67% year over year and ahead of Wall Street consensus by $1.10 billion. As of March 10, the stock has gained 7.94% over the past 12 months.

ConocoPhillips (NYSE:COP) was held by 67 hedge funds at the end of the fourth quarter of 2022. These funds held collective stakes worth $2.98 billion in the company, up from $2.66 billion in the previous quarter when 64 hedge funds held positions in the company. The hedge fund sentiment for the stock is positive.

Here is what ClearBridge Investments had to say about ConocoPhillips (NYSE:COP) in its Q4 2022 investor letter:

“The risk-on environment supported by China reopening drove strong returns for the energy sector, despite underlying commodity prices falling from recent highs. In the portfolio, leading E&P company ConocoPhillips (NYSE:COP) was again among the top contributors; it maintains one of the best balance sheets in the industry and continues to execute well while benefiting from being a low-cost producer and growing liquefied natural gas demand. ConocoPhillips is also investing in field electrification and carbon capture across its portfolio, with ambitions to deliver oil production with industry-low CO2 intensity.”

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