5 Best Gas Stocks To Buy Now

4. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 62

One of the largest gas firms in the world, ConocoPhillips (NYSE:COP) ranks 4th in our list of the best gas stocks to buy now. The Texas-based company explores crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids globally. It recently signed a 15-year throughput deal with Gate Terminal in the Netherlands to add regasification capacity in Europe. The agreement is for about 1.5 million tonnes per annum of natural gas and starts in September 2031. In its third quarter, ConocoPhillips (NYSE:COP) reported adjusted earnings of $2.16 per share and revenue of $14.9 billion. The firm also raised the quarterly dividend by about 14%. ConocoPhillips (NYSE:COP) also recently completed the purchase of the remaining 50% interest in Surmont from TotalEnergies SE (NYSE:TTE)’s EP Canada unit for about $2.7 billion.

A total of 62 hedge funds tracked by Insider Monkey had stakes in ConocoPhillips (NYSE:COP) as of second quarter of 2023. The biggest stakeholder of ConocoPhillips (NYSE:COP) was Natixis Global Asset Management’s Harris Associates which owns a $1.5 billion stake in the company.