Why ConocoPhillips (COP) is One of the Most Resilient Safe Dividend Stocks in Oil & Gas

ConocoPhillips (NYSE:COP) is included among the 10 Best and Safe Dividend Stocks to Buy Now.

Why ConocoPhillips (COP) is One of the Most Resilient Safe Dividend Stocks in Oil & Gas

An underground network of pipelines transporting oil through an expansive terrain.

ConocoPhillips (NYSE:COP) ranks among the largest and most efficient oil and gas producers in the US. The company has built a strong and diverse asset base with decades of production potential, keeping its supply cost under $40 per barrel. With oil prices currently in the upper $60s, the company is generating significant free cash flow.

Its ongoing investments in Alaska and global LNG operations are expected to add $6 billion in additional free cash flow by 2029. This growth positions ConocoPhillips (NYSE:COP) as a leader in free cash flow expansion within the energy sector and supports its aim to be among the top 25% of S&P companies in dividend growth.

ConocoPhillips (NYSE:COP) currently pays a quarterly dividend of $0.78 per share and has a dividend yield of 3.29%, as recorded on July 27. It is among the safest dividend stocks to invest in as the company has raised its payouts for 10 consecutive years.

While we acknowledge the potential of COP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COP and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Food Stocks with Dividends and 11 Dogs of the Dow Dividend Stocks to Buy Now.

Disclosure: None.