12 Best Safe Stocks to Buy Now

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1. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holdings: 72

In the second quarter, Polianta Ltd acquired a new position in ConocoPhillips (NYSE:COP) through the purchase of 14,500 shares of the company’s stock. According to the latest disclosure with the SEC, the investment of the firm in the company is around $1,301,000.

What’s truly impressive is that ConocoPhillips (NYSE:COP) is investing heavily in high-potential regions, with billions in expected synergies and $5.0B in targeted asset dispositions. Additionally, the company plans to inject fresh capital into regions like the Permian.

Despite recent underperformance, ConocoPhillips (NYSE:COP) boasts a compelling balance sheet, ongoing buyback programs, and key projects in the works. An early sign of the company’s bright future is its integration of Marathon Oil, which is way ahead of schedule. This means that the company could realize $1 billion in cost synergies and enhance its production even with limited drilling.

ConocoPhillips (NYSE:COP), headquartered in Houston, Texas, is a company that focuses on crude oil, liquefied natural gas (LNG), and natural gas liquids, among others. Founded in 191, the company operates in six segments.

While we acknowledge the potential of COP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COP and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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