ConocoPhillips (COP) Nearing Deal to Divest Oklahoma Assets to Stone Ridge Energy

ConocoPhillips (NYSE:COP) is one of the top stocks sold by hedge funds. On July 11, RBC Capital trimmed the price target on COP from $115 to $113, while reaffirming an Outperform rating on the shares.

According to RBC, expected earnings and cash flow per share are slightly higher than the company’s own assumptions of $1.30 and $4.5 billion. The firm noted that leverage in Q2 2025 is likely to climb, reflecting working capital pressures, higher capital expenditure, and missing APLNG distributions.

The firm observes that ConocoPhillips is on the verge of a free cash flow transition, driven by a significant reduction in major capital outlays expected in Q3 2025.

Core investor debates now revolve around shareholder payout metrics, planned divestments, the capex-to-cash flow inflection, and the rate of drilling activity in the onshore Lower 48 region.

ConocoPhillips (NYSE:COP) is an energy company that explores, produces, and sells oil, gas, and LNG. It operates in different regions like the United States, Canada, Europe, and Asia, and has both traditional and renewable oil and gas projects.

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