5 Best Oil Stocks To Buy According To Hedge Funds

4. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders in Q4 2022: 67

ConocoPhillips (NYSE:COP) is a diversified oil and gas company that explores, produces, transports, and markets the products. It is based in Houston, Texas.

ConocoPhillips (NYSE:COP) scored a big win in February 2023 when its plan to drill for oil at five Alaskan sites received unanimous approval from the state’s legislature. Insider Monkey took a look at 943 hedge fund portfolios for last year’s fourth quarter to determine that 67 had bought its shares.

Ken Fisher’s Fisher Asset Management is ConocoPhillips (NYSE:COP)’s largest hedge fund shareholder. It owns 6.9 million shares that are worth $814 million.

Follow Conocophillips (NYSE:COP)