UBS Remains Bullish on ConocoPhillips (COP) Amid Cost Pressures and Softer 2026 Oil Volume Outlook

ConocoPhillips (NYSE:COP) is 1 of the 12 champion commodity stocks to bargain close now.

On November 12, 2025, UBS reduced its terms people connected ConocoPhillips (NYSE:COP) from $122 to $117, reiterating a “Buy” rating. The concern steadfast cites outgo pressures from the Willow project, which are evident from the $1-$1.5 cardinal superior expenditure summation for the project. These outgo pressures, alongside softer 2026 lipid measurement outlook, drove the terms people reduction.

ConocoPhillips (NYSE:COP) announced Q3 2025 results connected November 6, 2025. The 4th saw accumulation exceeding guidance with 2.399 cardinal barrels of lipid equivalent per day. Meanwhile, adjusted EPS reached $1.61 per share. Thanks to $5.4 cardinal successful currency from operations, the institution recorded $2.2 cardinal successful shareholder returns, including dividends and buybacks. Furthermore, the institution lowered its operating outgo guidance to $10.6 cardinal and raised accumulation guidance to 2.375 MMBOED, bolstering capitalist confidence.

However, the Willow task faced outgo pressures owed to ostentation and localized escalation, reporting an summation to $8.5-$9.0 cardinal successful task superior guidance. Still, the archetypal lipid docket is connected way for aboriginal 2029. ConocoPhillips (NYSE:COP)’s absorption believes Willow remains competitory wrong the company’s portfolio contempt higher superior expenditures. Moreover, beardown currency travel was generated from its Lower 48 operations, acknowledgment to betterment successful ratio and simplification successful rig counts.

With this, ConocoPhillips (NYSE:COP) expects to execute a $7 cardinal escaped currency travel inflection by 2029.

ConocoPhillips (NYSE:COP), a planetary vigor producer, focuses connected lipid and state exploration, production, and LNG development.

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