ConocoPhillips (COP) saw a price increase of 5.02% as it crossed above its 5-day SMA, indicating positive momentum despite broader market declines.
The stock's rise follows an upgrade from Wells Fargo, which raised its rating from Equal Weight to Overweight and set a new price target of $132. The upgrade is based on expectations of significant dividend growth potential, with forecasts indicating over $6 in cumulative dividend capacity growth from 2026 to 2029. Additionally, the anticipated startup of the Willow project in 2029 is expected to enhance free cash flow significantly, contributing approximately $4 billion in net change in the first year at $65 Brent prices.
This upgrade reflects a strong outlook for ConocoPhillips, positioning it favorably in a challenging market environment, especially as it continues to pursue organic growth through various projects, including Qatar LNG and Port Arthur LNG.
Wall Street analysts forecast COP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COP is 113.39 USD with a low forecast of 98.00 USD and a high forecast of 132.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
Wall Street analysts forecast COP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COP is 113.39 USD with a low forecast of 98.00 USD and a high forecast of 132.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Buy
3 Hold
0 Sell
Strong Buy
Current: 101.390
Low
98.00
Averages
113.39
High
132.00
Current: 101.390
Low
98.00
Averages
113.39
High
132.00
Susquehanna
Positive
maintain
$110 -> $115
2026-01-26
New
Reason
Susquehanna
Price Target
$110 -> $115
AI Analysis
2026-01-26
New
maintain
Positive
Reason
Susquehanna raised the firm's price target on ConocoPhillips to $115 from $110 and keeps a Positive rating on the shares. The firm updated targets in the exploration and production group as part of a Q4 preview. The oil market remains oversupplied following the unwinding of OPEC's voluntary production cuts, which will put downward pressure on pricing when paired with soft demand growth globally, the analyst tells investors in a research note. Susquehanna dropped its 2026 West Texas Intermediate price assumption to $60 per barrel from $65. It remains bullish on long-term demand story for natural gas as well as growing power demand from data centers and electrification.
Morgan Stanley
Overweight
downgrade
$117 -> $108
2026-01-23
Reason
Morgan Stanley
Price Target
$117 -> $108
2026-01-23
downgrade
Overweight
Reason
Morgan Stanley lowered the firm's price target on ConocoPhillips to $108 from $117 and keeps an Overweight rating on the shares. The firm marked its 2026-27 oil price deck for strip as of January 7 in conjunction with its Q4 preview for the E&Ps, oil majors and Canadian producers. The firm expects "fairly clean" Q4 operational updates but lighter cash flow from price realizations, the analyst tells investors in the preview.
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JPMorgan
Arun Jayaram
Overweight -> Neutral
downgrade
$98
2026-01-20
Reason
JPMorgan
Arun Jayaram
Price Target
$98
2026-01-20
downgrade
Overweight -> Neutral
Reason
JPMorgan analyst Arun Jayaram downgraded ConocoPhillips to Neutral from Overweight with an unchanged price target of $98. The firm adjusted ratings in the integrated oils sector as part of its 2026 outlook. The outlook for the group continues to shaped by supply side risks for oil, but a more constructive outlook downstream, the analyst tells investors in a research note. Amid the rise in geopolitical risks, JPMorgan says the U.S. majors screen more attractive than the Canadian integrateds. It cites relative valuations for the rating changes.
BofA
Neutral -> Underperform
downgrade
$102
2026-01-16
Reason
BofA
Price Target
$102
2026-01-16
downgrade
Neutral -> Underperform
Reason
BofA downgraded ConocoPhillips to Underperform from Neutral with a $102 price target.
About COP
ConocoPhillips is an exploration and production company. Its Alaska segment primarily explores for, produces, transports and markets crude oil, natural gas and NGLs. The Lower 48 segment consists of operations located in the 48 contiguous states in the United States and the Gulf of Mexico. Canadian operations consist of the Surmont oil sands development in Alberta, the liquids-rich Montney unconventional play in British Columbia and commercial operations. The Europe, Middle East and North Africa segment consists of operations principally located in the Norwegian sector of the North Sea, the Norwegian Sea, Qatar, Libya, Equatorial Guinea and commercial and terminalling operations in the United Kingdom. Asia Pacific segment has exploration and production operations in China, Malaysia, Australia and commercial operations in China, Singapore and Japan. Other International segment includes interests in Colombia as well as contingencies associated with prior operations in other countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
