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ConocoPhillips rated Buy with 15% upside on strong oil prices and growth projects.

Analyst Insights
14 May 2026
Seeking Alpha
View Source
Bullish
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ConocoPhillips is rated a Buy with an estimated 15% upside to a $135 fair value, supported by sustained high oil prices following the Strait of Hormuz closure. The company's oil-focused production and disciplined capital spending position it well to benefit from ongoing supply disruptions, despite challenges from weak natural gas prices. Free cash flow is expected to surge in Q2 and 2026, with at least $12.5 billion anticipated this year. Major projects like Willow and Port Arthur LNG are set to drive medium-term growth, while a strong balance sheet, a 2.9% dividend yield, and a 45% cash return policy support capital returns and share buybacks.

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