10 Best Stocks to Buy Before Spring

6. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 85

ConocoPhillips (NYSE:COP) is a global energy corporation located in Texas that explores, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids.

On February 10, Truist Securities analyst Neal Dingmann reiterated a Buy rating and a $139 price target for ConocoPhillips (NYSE:COP). Dingmann stated that ConocoPhillips intends to refine its portfolio with around $2 billion in asset sales. This strategic approach aims to improve the quality of the company’s assets. The analyst’s outlook is based on confidence in the company’s ability to strike a balance between expansion and capital discipline.

ConocoPhillips (NYSE:COP) delivered a solid performance in 2024 after closing the $22.5 billion purchase of Marathon in late November, adding high-quality, low-cost supply inventories to its portfolio. During the year, the company returned $9.1 billion in capital to its shareholders, which accounted for 45% of operational cash flow.