CX Institutional holds a substantial $6.18 million position in
ConocoPhillips (NYSE:COP). The stock price surged by 11% last week due to oil sector gains, prompting the sale of 3,230,334 shares by
Assenagon Asset Management and an increase in stake by
Farther Finance Advisors LLC.
Harbor Capital Advisors Inc also increased their COP holdings.
Jim Cramer dubbed COP the “
Best of the Lot,” and it has reportedly become a preference among hedge funds for being an undervalued energy stock.
Citigroup installed a new $115.00 price target for COP, which has been facing governance challenges, but still gained amid energy sector strength. The completion of the acquisition of the
Marathon Oil Corporation is another notable move by COP. Considering COP's strong free cash flows, several brokers recommend buying the stock. However, the CEO warns of the US shale plateau if oil remains in the current price range. Amid high expectations of a dividend hike next month, COP is viewed as a potential high growth dividend-paying stock that is still undervalued.
Conocophillips COP News Analytics from Mon, 18 Nov 2024 08:00:00 GMT to Sat, 14 Jun 2025 21:28:21 GMT -
Rating 8
- Innovation 3
- Information 5
- Rumor -5
