Conocophillips (COP – Research Report), the Energy sector company, was revisited by a Wall Street analyst today. Analyst Suvro Sarkar from DBS reiterated a Buy rating on the stock and has a $130.00 price target.
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Suvro Sarkar has given his Buy rating due to a combination of factors including ConocoPhillips’ strategic acquisitions and strong growth prospects. The company recently completed the acquisition of Marathon Oil, which is expected to drive significant volume growth in 2025. This inorganic expansion, along with efficient capital expenditure synergies, positions ConocoPhillips for robust production increases.
Additionally, ConocoPhillips is committed to enhancing shareholder returns, with plans to distribute USD10 billion in 2025, reflecting a substantial yield at current prices. The company’s strong balance sheet and focus on low-cost supply portfolios further support this positive outlook. Despite recent oil price volatility, the anticipated recovery in prices, coupled with ConocoPhillips’ solid earnings and distribution strategy, underpins the Buy rating with a target price of USD130.
In another report released today, Susquehanna also maintained a Buy rating on the stock with a $114.00 price target.