5 Best Energy Stocks to Invest In Today

4. ConocoPhillips (NYSE: COP)

Number of Hedge Fund Holders: 50

ConocoPhillips (NYSE: COP) is an American multinational exploration and production company, specializing in hydrocarbon explorations. The company mainly explores and markets crude oil, natural gas, and liquefied natural gas while carrying out their transportations around the world. ConocoPhillips (NYSE: COP) has $85 billion of total assets and exploration activities in over 15 countries. It ranks fourth on our list of the best energy stocks to invest in today.

In Q2 2021, ConocoPhillips (NYSE: COP) posted an EPS of $1.27, beating the market estimates by $0.14. The consolidated revenue for the quarter stood at $10.2 billion, up from $4.01 billion during the same period last year. Piper Sandler analyst, Ryan Todd appreciated the company’s Q2 earnings and lifted the firm’s price target on ConocoPhillips (NYSE: COP) to $80, with an ‘Overweight’ rating on the shares. ConocoPhillips (NYSE: COP) gained 65.1% in the past year and 42.1% year-to-date.

As of Q2 2021, 50 hedge funds tracked by Insider Monkey have positions in ConocoPhillips (NYSE: COP), worth $1.15 billion. The number is compared to 51 hedge funds in the previous quarter, valued at $1.2 billion.

ClearBridge Investments published its first-quarter 2021 investor letter and mentioned ConocoPhillips (NYSE: COP) in it. Here is what the firm has to say:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) ConocoPhillips. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”