Louis Navellier is Buying These 5 Energy Stocks in 2022

1. ConocoPhillips (NYSE:COP)

Value of Navellier & Associates‘ 13F Position: $12.39 million

Number of Hedge Fund Shareholders (as of March 31): 68

Topping the list of Louis Navellier’s biggest energy buys of Q1 is ConocoPhillips (NYSE:COP), which now ranks as the fund manager’s third favorite stock. Navellier raised his stake in COP by 130% during the first quarter, lifting the size of his position to 123,931 shares.

ConocoPhillips (NYSE:COP) is highly efficient when it comes to finding and producing oil and gas, which is the company’s specialty. It was one of the few energy companies that was free cash flow positive in 2020, and needless to say, it’s growing more prosperous by the day. Conoco grew its earnings by a tremendous 370% during the first quarter, thanks to its average realized oil price rising by 70% during that time to $76.99 per barrel.

ConocoPhillips (NYSE:COP) has also adopted the fixed plus variable dividend payouts standard that numerous other energy companies are now utilizing. The company’s latest fixed quarterly dividend payment was $0.46, while its variable payment was $0.70. All told, those payments equated to an annualized dividend yield of nearly 5%.

For more on the latest trades made by some of the biggest hedge fund managers in the world, check out 10 Best Automation Stocks To Buy Now and Top 10 Stocks to Buy Today According to Kerr Neilson’s Platinum Asset Management.

Disclosure: None.

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