Billionaire’s 15 Favorite Oil and Gas Stocks Right Now

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2. ConocoPhillips (NYSE:COP)

Number of Billionaire Holders: 16

ConocoPhillips (NYSE:COP) is one of the world’s largest independent E&P companies based on oil and natural gas production and proved reserves. COP is the largest independent exploration and production company in the world, based on proved reserves and production of liquids and natural gas.

ConocoPhillips (NYSE:COP) has significantly bolstered its position with the $22.5 billion acquisition of Marathon in November 2024, which added high-quality, low-cost supply inventory to its portfolio. As a result, the company raised its production by 14.8% YoY to 2.183 million barrels of oil equivalent per day in Q4 2024, allowing it to beat market estimates and post a Q4 revenue of $14.74 billion. COP’s EPS of $1.98 during the quarter was also above analysts’ estimates by $0.15.

ConocoPhillips (NYSE:COP) generated $20.3 billion in cash from operations in 2024 and returned $9.1 billion to its shareholders in the form of share buybacks and dividends. The company has grown its dividend for 10 consecutive years and announced its ordinary dividend of $0.78 per share for Q1 of 2025, with plans to return $10 billion to its shareholders this year. The stock has an annual dividend yield of 3.44% as of March 9, 2025.

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