COP is set to buy 1 million tons of LNG annually from Venture Global for 20 years starting in 2030 as it expands its LNG portfolio.
ConocoPhillips (COP) closed the most recent trading day at $127.06, moving +1.53% from the previous trading session.
ConocoPhillips is rated Buy, with oil price upside outweighing elevated geopolitical risk at current valuation. COP's production engine is the U.S. Lower 48, but international exposure—Qatar, Libya, Iraq, Syria—raises geopolitical risk amid current global tensions. Q2 execution was strong: record Permian output, $4.2B free cash flow, and $3B shareholder returns, but total production fell 4% year over year.
In the closing of the recent trading day, ConocoPhillips (COP) stood at $132.54, denoting a -6.15% move from the preceding trading day.
ConocoPhillips remains a buy, supported by robust free cash flow growth and a favorable macro environment amid persistent oil supply disruptions. Oil market deficits, driven by Middle East conflict and impaired flows, are expected to keep crude prices elevated through at least 2027, benefiting COP's profitability. COP's Willow project is past peak capex and on track for 2029 production, while LNG projects will generate cash flow starting next year, underpinning future returns.
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The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.