Louis Navellier’s Top 5 Stock Picks for Q4 2022

1. ConocoPhillips (NYSE:COP)

Navellier & Associates’ Stake Value: $12.82 million

Percentage of Navellier & Associates’ 13F Portfolio: 2.85%

Number of Hedge Fund Holders: 64

ConocoPhillips (NYSE:COP) is an American multinational corporation engaged in hydrocarbon exploration and production. Based in the Energy Corridor district of Houston, Texas, the firm has facilities in North America, Europe, Canada, Asia, and Australia. As of Q3 2022, Navellier & Associates owned 125,296 of the company shares, valued at $12.82 million, representing 2.85% of its portfolio.

Citi analyst Alastair Syme raised the price target on ConocoPhillips (NYSE:COP) to $160 from $132 and kept a Buy rating on the shares on November 22. According to the analyst, the market rotation into energy equities has “further to run, even though names in our US coverage already sit at all-time highs.” Syme bases his report on historical findings where energy equities have performed well in earnings recessions.

64 out of the 920 hedge funds polled by Insider Monkey during this year’s September quarter had invested in ConocoPhillips (NYSE:COP). ConocoPhillips (NYSE:COP)’s largest shareholder in our database is Ken Fisher’s Fisher Asset Management which owns 6.9 million shares that are worth $708 million.

You can also take a look at 15 Largest Airlines in the World and 10 Best Safe Dividend Stocks for Retirement Portfolios.