5 Dividend Stocks in Crispin Odey’s Hedge Fund Portfolio

4. ConocoPhillips (NYSE:COP)

Stake Value of Odey Asset Management Group: $5,727,000

Percentage of Odey Asset Management Group’s 13F Portfolio: 1.52%

Number of Hedge Fund Holders: 49

Dividend Yield as of January 5: 2.39%

ConocoPhillips (NYSE:COP) operates as an American multinational corporation that is involved in hydrocarbon exploration and production worldwide.

On November 30, 2021, Mizuho analyst Silvio Micheloto raised his price target on ConocoPhillips (NYSE:COP) to $101 from $99 and reiterated a Buy rating on the shares.

By the end of the second quarter of 2021, Odey Asset Management Group’s stake in ConocoPhillips (NYSE:COP) stood at $3.92 million, which represented 0.88% of the hedge fund’s 13F portfolio.

Of the 867 hedge funds present in Insider Monkey’s database, 49 held stakes in ConocoPhillips (NYSE:COP) by the end of the third quarter of 2021. These stakes amounted to $1.37 billion, up from $1.15 billion in the second quarter of 2021, when 50 hedge funds held a stake in the company.

ClearBridge Investments mentioned ConocoPhillips (NYSE:COP) in their third-quarter 2021 investor letter, here’s what they had to say:

“We also seized the opportunity to add to our position in energy producer ConocoPhillips at what we considered an attractive valuation. The market rewarded this move late in the quarter after ConocoPhillips announced its purchase of Permian Basin assets from Shell, making the company the second-largest oil and gas producer in the contiguous U.S. We view this as a positive strategic transaction for a well-run, ESG-cognizant oil producer. With this and prior transactions, the company continues to press its cost advantage and is well-positioned to benefit from ongoing energy demand recovery to pre-pandemic levels.”