10 Best Oil and Gas Stocks to Buy Now

6. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 70

ConocoPhillips (NYSE:COP) is one of the 10 best oil and gas stocks to buy now. On June 11, Citi reduced its price target for ConocoPhillips (NYSE:COP) from $140 to $115 while keeping a “Buy” rating.

Despite major acquisitions aimed at transformation, ConocoPhillips (NYSE:COP) has performed poorly since early 2024 and has fallen to four-year lows compared to the US energy index. This underperformance has wiped out the gains the stock made through strategic acquisitions.

However, Citi analysts believe this presents a “value opportunity” as ConocoPhillips (NYSE:COP) is positioned to stay resilient even as OPEC’s new strategies create challenges for many in the energy sector. Citi still sees significant upside potential for the stock.

ConocoPhillips (NYSE:COP) is one of the world’s largest independent oil and gas exploration and production companies based on production and proved reserves.