
ConocoPhillips (COP) Stock Forecast & Price Target
ConocoPhillips (COP) Analyst Ratings
Bulls say
ConocoPhillips demonstrated significant operational strengths in 2023, achieving a production rate of 1.2 million barrels per day of oil and natural gas liquids, alongside 3.1 billion cubic feet per day of natural gas, indicating robust capacity and efficiency in its operations. The firm’s proven reserves stood at 6.8 billion barrels of oil equivalent at year-end 2023, which underpins a solid foundation for future growth, particularly with anticipated increases in U.S. oil production and strategic investments in projects like Willow. Furthermore, management's focus on optimizing well completions and achieving cost synergies suggests enhanced capital efficiency and a favorable trajectory for returns, supporting a positive long-term outlook for the company's stock.
Bears say
The negative outlook on ConocoPhillips's stock stems from concerns regarding lower capital efficiencies and potential industry inflation, which could hinder the company's ability to achieve significant returns for shareholders. Additionally, recent softness in oil prices, driven by weakened demand in major markets like China and India, poses further risks, especially if prices dip into the $60's per barrel. Regulatory changes and OPEC's output quotas can also adversely affect the company's development opportunities and long-term production capacities.
This aggregate rating is based on analysts' research of ConocoPhillips and is not a guaranteed prediction by Public.com or investment advice.
ConocoPhillips (COP) Analyst Forecast & Price Prediction
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