8 Best Crude Oil Stocks To Buy Right Now

3. ConocoPhillips (NYSE:COP

Number of Hedge Fund Holders: 66

ConocoPhillips (NYSE:COP) is a leading independent exploration and production company with significant crude oil operations worldwide. The company specializes in unconventional oil production from shales in the U.S. and traditional reservoirs globally. ConocoPhillips (NYSE:COP) supplies crude oil to refineries, industrial clients, and global markets.

On November 22, ConocoPhillips (NYSE:COP) completed the acquisition of Marathon Oil Corporation (NYSE:MRO), bolstering its long-term growth potential. Over the next 12 months, the company expects to achieve synergies exceeding $1 billion on a run-rate basis.

On October 31, ConocoPhillips (NYSE:COP) reported financial results for Q3. In Q3, ConocoPhillips (NYSE:COP) generated $5.8 billion in cash from operating activities, with $4.7 billion attributed to cash from operations. The company increased its ordinary dividend by 34% to $0.78 per share and expanded its share repurchase authorization to $20 billion.

ConocoPhillips (NYSE:COP) has outlined a 10-year plan focused on constrained investment, steady growth, enhanced returns, and significant cash distributions to shareholders. This strategy sets ConocoPhillips (NYSE:COP) apart from its competitors.