ConocoPhillips (NYSE:COP) is one of the Best Undervalued Stocks to Buy According to the Financial Media.
On May 26, Barclays analyst Betty Jiang lifted its price objective on the company’s stock to $155 from $136 and kept an “Overweight” rating on the shares
As per the firm, depletion in inventories, coupled with shrinking OPEC spare capacity and muted US production response to the war, continues to result in a tighter oil macro backdrop. This is not entirely reflected in equities. As per the analyst, the oil exploration and production companies will encounter a share re-rating after the conflict.
The firm also slashed its gas price outlook, amidst near-term oversupply. Overall, the firm adjusted ratings and price objectives in the broader integrated oil and exploration and production group. Amidst the macro volatility, ConocoPhillips (NYSE:COP) posted another quarter of robust financial and operational performance, with the company reporting production of 2,309 MBOED in Q1 2026, reflecting a decline of 80 MBOED on a YoY basis.