- ConocoPhillips plans restructuring to boost efficiency post-Merger with Marathon Oil.
- Analysts' Consensus: "Outperform" with a potential upside of 37.13%.
- GF Value Estimate: Predicts a 26.25% increase in stock price over the next year.
ConocoPhillips (COP) is set to initiate a series of layoffs as part of an effort to enhance cost efficiency following its merger with Marathon Oil. This restructuring, under the guidance of Boston Consulting Group, is anticipated to impact corporate and support roles within the company. With the specifics expected to be announced in Q4, ConocoPhillips is adapting its operations to face current market challenges. In 2024, the company reports employing approximately 11,800 people worldwide.
Wall Street Analysts Forecast
According to projections from 27 analysts, the average one-year price target for ConocoPhillips (COP, Financial) is $123.82, with estimates ranging from a low of $95.00 to a high of $165.00. This average target price suggests a potential upside of 37.13% from the current market price of $90.29. For more detailed estimate data, investors can visit the ConocoPhillips (COP) Forecast page.
The consensus rating from 29 brokerage firms places ConocoPhillips (COP, Financial) at an average brokerage recommendation of 1.8, classifying it as "Outperform." This rating is based on a scale from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Sell.
Additionally, GuruFocus' GF Value estimate for ConocoPhillips (COP, Financial) over the next year is $113.99. This forecasted value represents a 26.25% increase from the current stock price of $90.29. The GF Value metric is calculated by considering the historical trading multiples, past business growth, and future earnings estimates. For more comprehensive data, you can access the ConocoPhillips (COP) Summary page.
