5 Best American Oil Stocks To Buy Now

In this article, we will take a look at the 5 best American oil stocks to buy now. To see more such companies, go directly to 11 Best American Oil Stocks To Buy Now.

5. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 64

ConocoPhillips (NYSE:COP) is one of the biggest oil producers in America. ConocoPhillips (NYSE:COP) is also a solid dividend payer, with a dividend yield of over 4% as of January 9. In December, Piper Sandler analyst Ryan Todd raised his price target on ConocoPhillips (NYSE:COP) to $157 from $155 and kept an Overweight rating on the shares. The analyst said in a note to investors that he is bullish on the energy sector even after two years of outperformance. He thinks that the refinery sector is expected to “lead the charge” in 2023.

Of the 920 hedge funds tracked by Insider Monkey as of the end of the third quarter, 64 funds reported having stakes in ConocoPhillips (NYSE:COP).