15 High Growth Companies Hedge Funds Are Buying

12. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 86

Average 5-Year Revenue Growth: 23.05%

ConocoPhillips (NYSE:COP) is a global energy company that explores, produces, and markets oil and gas, including LNG and natural gas liquids. It ranks 12th on our list of high growth stocks. On April 15, UBS analyst Josh Silverstein issued a Buy rating on COP but trimmed the price target to $111 from $116. Analyst Silverstein expects the upcoming earnings call to highlight the company’s resilience, cash flow from major projects, and $10 billion return of capital. ConocoPhillips is well-positioned for growth and is supported by divestitures, cash reserves, and a strong balance sheet.

In February 2025, ConocoPhillips (NYSE:COP) agreed to sell its stakes in the Ursa and Europa Fields, along with the Ursa Oil Pipeline, to Shell plc for $735 million. The deal also includes a royalty interest in the Ursa Field. The proceeds will be used for general corporate purposes. This sale is part of ConocoPhillips’ ongoing effort to streamline its portfolio and reach its $2 billion asset divestment target. The transaction, which is expected to close by the second quarter of 2025, covers around 8,000 barrels of oil equivalent per day of production from its interests in the fields.

According to Insider Monkey’s Q4 database, 86 hedge funds held stakes in ConocoPhillips (NYSE:COP), compared to 66 funds in the last quarter. Boykin Curry’s Eagle Capital Management is the biggest stakeholder of the company, with nearly 20 million shares worth $2 billion.