Raymond James has adjusted its price target for ConocoPhillips (COP, Financial), reducing it from $124 to $103 while maintaining an Outperform rating on the stock. This adjustment comes in response to significant shifts in the energy market landscape, compared to when Exploration & Production companies released their fourth-quarter results at the end of February.
The energy sector has been affected by a notable decrease in oil prices, approximately $10 per barrel lower, which has contributed to a challenging environment with few places to mitigate the impact of falling commodity prices. These changes are attributed to the volatile macroeconomic conditions triggered by factors such as tariff conflicts and decisions made by OPEC+.
Despite this turbulent backdrop, Raymond James anticipates that companies within its E&P coverage, including ConocoPhillips, will generally report performance in line with expectations for the first quarter. Management teams are largely adopting a cautious stance, opting to wait and observe how the market evolves.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for ConocoPhillips (COP, Financial) is $124.74 with a high estimate of $165.00 and a low estimate of $95.00. The average target implies an upside of 40.19% from the current price of $88.98. More detailed estimate data can be found on the ConocoPhillips (COP) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, ConocoPhillips's (COP, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ConocoPhillips (COP, Financial) in one year is $113.99, suggesting a upside of 28.11% from the current price of $88.98. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ConocoPhillips (COP) Summary page.
