Roth Capital keeps a Buy rating and $108 price target on shares of ConocoPhillips (COP), citing its strong balance sheet, diversified assets, lower base production declines, consistent production growth, and robust returns of capital to shareholders, which exceed 40% of cash flow from operations. The company plans to reduce its workforce by 20%-25% by year-end 2026, according to Reuters, which Roth says should lead to a slightly positive reaction in the stock vs. peers.
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