Here’s Why You Should Remain Optimistic in Your ConocoPhillips (COP) Stake

ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Value Strategy outperformed its Russell 1000 Value Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in 10 of 11 sectors in which it was invested for the quarter. The strongest contributions came from the IT, health care, industrials, and materials sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Large Cap Value Strategy, in its Q4 2021 investor letter, mentioned ConocoPhillips (NYSE:COP) and discussed its stance on the firm. Founded in 1875, ConocoPhillips (NYSE:COP) is a Houston, Texas-based natural gas liquids company with a $126.4 billion market capitalization, and is currently spearheaded by its CEO, Ryan Lance. ConocoPhillips (NYSE:COP) delivered a 35.13% return since the beginning of the year, while its 12-month returns are up by 90.36%. The stock closed at $97.54 per share on April 06, 2022.

Here is what ClearBridge Investments Large Cap Value Strategy has to say about ConocoPhillips (NYSE:COP) in its Q4 2021 investor letter:

“Our energy and financials holdings kept pace in the 2021 rally. Within energy, ConocoPhillips continues to leverage its strong balance sheet and cost-advantaged acreage position in the prolific Permian Basin by making an opportunistic acquisition of assets from Royal Dutch Shell, further solidifying its strong Permian footprint.”

Oil and Gas Industry

Our calculations show that ConocoPhillips (NYSE:COP) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ConocoPhillips (NYSE:COP) was in 56 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 49 funds in the previous quarter. ConocoPhillips (NYSE:COP) delivered a 24.27% return in the past 3 months. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.