5 Oil and Gas Stocks to Buy According to Ken Fisher

4. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 56

ConocoPhillips (NYSE:COP) is one of the best stock picks of Ken Fisher as the share price of the Texas-based hydrocarbon exploration firm jumped close to 80% over the last six months. Ken Fisher first bought a stake in ConocoPhillips (NYSE:COP) in 2018 by adding over 300,000 shares of the company to his portfolio. At the end of December 2021, he reported owning over 6.2 million shares of the company, worth over $447 million.

Due to its attractive dividend yield and history, ConocoPhillips (NYSE:COP) is also a famous dividend stock among hedge funds. It also features on our list of dividend stock picks of famous hedge fund Crispin Odey.

ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” third quarter 2021 investor letter and mentioned ConocoPhillips (NYSE:COP). Here‘s what the fund said:

“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.”