Jefferies raises ConocoPhillips price target amid asset review and LNG expansion plans

Jefferies increased its price target for ConocoPhillips to $174 from $159, reflecting a 34.5% upside from the current price of $129.35. This follows ConocoPhillips' review of an unsolicited $7 billion offer for its Norway and UK assets, which could boost capital for debt reduction, shareholder returns, or investments. The company is also expanding its LNG business with a 20-year supply deal starting in 2030, aiming to build a portfolio of 10-15 million tons annually. Additionally, ConocoPhillips expects higher oil price floors around $70 per barrel, supporting its long-term growth in the energy market.

ConocoPhillips (COP) trades at USD 131.85 on Pluang as of Oct 07, 2026 20:33 WIB, near its 52-week high of USD 141.22 and well above the 52-week low of USD 85.66. The stock shows a positive 1-day change of +1.93%, with a dividend yield of 2.6%. Despite a majority of Pluang order activity being sell at 63%, the price remains strong close to its yearly peak, indicating sustained investor interest amid ongoing corporate developments.