Starter Stock Portfolio: 5 Large-Cap Stocks To Buy

4. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 71

ConocoPhillips (NYSE:COP), a Texas-based provider of crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids, is one of the premier large-cap stocks to buy. On October 19, Barclays analyst Jeanine Wai maintained an Overweight rating on ConocoPhillips (NYSE:COP) but lowered the price target on the shares to $135 from $153 ahead of the Q3 results.

According to the second quarter database of Insider Monkey, 71 hedge funds held stakes worth $2.4 billion in ConocoPhillips (NYSE:COP), compared to 67 funds in the prior quarter worth $2.6 billion. Ken Fisher’s Fisher Asset Management is the biggest position holder in the company, with 6.76 million shares valued at $607.2 million. 

Diamond Hill Capital mentioned ConocoPhillips (NYSE:COP) in its Q1 2022 investor letter. Here is what the firm had to say:

“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.”