Retirement Stock Portfolio: 5 Safe Energy Stocks to Consider

4. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 64     

ConocoPhillips (NYSE:COP) explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It is one of the top safe energy stocks for a retirement stock portfolio. On October 31, ConocoPhillips revealed that it was selected as Qatar Energy’s third international partner in the huge North Field South liquified natural gas project by taking a 6.25 percent stake. 

On November 7, Truist analyst Neal Dingmann maintained a Buy rating on ConocoPhillips (NYSE:COP) stock and raised the price target to $167 from $149, noting that the company’s third quarter results beat the expectations.

At the end of the third quarter of 2022, 64 hedge funds in the database of Insider Monkey held stakes worth $2.7 billion in ConocoPhillips (NYSE:COP), compared to 71 in the previous quarter worth $2.4 billion.

In its Q1 2022 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and ConocoPhillips (NYSE:COP) was one of them. Here is what the fund said:

“We redeployed capital into ConocoPhillips (NYSE:COP), which was trading at a discount to our estimate of intrinsic value and is well positioned over the long run due to its low-risk asset base.”