Roth Capital Upgrades ConocoPhillips to Buy with $130 Target
Roth Capital's Leo Mariani upgrades ConocoPhillips to a buy rating, setting a price target of $130, a 21.59% upside from the current price.
Key Points
- Roth Capital upgraded ConocoPhillips to a buy rating on June 22, 2026, with a new price target of $130.
- Roth Capital's $130 price target implies 21.59% upside from ConocoPhillips's ($COP) current $106.92 share price.
- ConocoPhillips traded at $107.74 on Monday, with a market cap of $131.3 billion and a P/E ratio of 18.26.
- Insider trades included Robert Niblock's buy of 322 shares on June 15, 2026, at $112.18 per share.
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On June 22, 2026, Roth Capital upgraded ConocoPhillips (NYSE: COP) to a buy rating, setting a new price target of $130. Analyst Leo Mariani made the call as the stock traded at $107.74 on Monday.
Roth Capital vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Other Institutional Activity in ConocoPhillips
BlackRock, Inc. increased its holdings in ConocoPhillips by 1,620,754 shares, ending with 91,173,754 shares valued at about $12.03 billion. Vanguard Capital Management LLC opened a new position with 79,539,856 shares worth approximately $10.50 billion. State Street Corp added 3,923,111 shares, bringing its total to 68,474,720 shares valued at $9.04 billion. Price T Rowe Associates Inc /MD/ boosted its stake by 3,467,358 shares, holding a total of 47,308,706 shares worth around $6.24 billion. Meanwhile, Charles Schwab Investment Management Inc reduced its position by 3,538,595 shares, resulting in 37,911,567 shares valued at about $5.00 billion.
ConocoPhillips Stock Down 18.0%
Shares of ConocoPhillips (NYSE: COP) traded near $107.74 on Monday. The company has a market cap of $131.3 billion, a P/E ratio of 18.26, and a forward P/E of 11.72. Its beta is 0.106, indicating relatively low volatility. The stock's 52-week range is $85.57 to $135.87, with a 50-day moving average of $119.08 and a 200-day moving average of $105.12. ConocoPhillips maintains a current ratio of 1.29 and a quick ratio of 1.07, with a debt-to-equity ratio of 36.14.
$COP price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
ConocoPhillips reported revenue of $59.38 billion with a slight revenue decline of 5.3%. The company's earnings per share (EPS) stand at $5.90, with a net margin of 12.33% and a return on equity (ROE) of 11.28%. The next earnings report is expected on August 6, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 13.2%. Revenue beat estimates by 1.6%.
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Profit surprise
EBITDA missed by 2 percent. Operating income beat by 2 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
3 target raises.
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Earnings quality
Gross margin up 16.7 points. Operating margin down 4.6 points. Positive free cash flow.
Earnings Call Summary
ConocoPhillips delivered strong first quarter results with 1.89 dollars of earnings per share and 5.4 billion dollars of free cash flow, beating expectations. The company returned 2 billion dollars to shareholders. Willow construction in Alaska is 50 percent complete with key milestones achieved. The Middle East conflict has taken about 10 million barrels per day of global production offline, with Qatar being their main impact at about 80 thousand barrels per day. The company remains committed to its long-term strategy and is adding modest Permian activity to maintain operational efficiency.
Guidance The company lowered production guidance for the full year by 35 thousand barrels per day because of the Middle East conflict taking Qatar offline. Operating costs stay at 10.2 billion dollars, down 400 million from last year. Capital spending goes up slightly to 12 to 12.5 billion dollars to add Permian drilling and maintain efficiency. The company expects free cash flow to be up significantly from higher oil and liquefied natural gas prices since it is not hedged.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Dividend
ConocoPhillips pays an annual dividend of $3.36, yielding 3.12% with a payout ratio of 54.92%. The ex-dividend date was not specified.
Insider Buying and Selling at ConocoPhillips
On June 15, 2026, insider Robert Niblock purchased 322 shares at an average price of $112.18. On June 10, 2026, Sharmila Mulligan sold 1,974 shares at $119 per share. Andrew Lundquist, Senior Vice President, had multiple transactions on June 1, 2026, including buying and selling shares without a specified price. William McRaven bought 2,230 shares on April 15, 2026.
Analysts Set New Price Targets
On June 22, 2026, Roth Capital upgraded ConocoPhillips to a buy rating with a $130 price target. Previously, Mizuho maintained its buy rating with a $150 target on May 27, 2026. Barclays also maintained a buy rating with a $155 target on May 26, 2026. The consensus among analysts is a buy rating, with an average target price of $142.77 based on 26 opinions.
About ConocoPhillips
ConocoPhillips is a major player in the energy sector, focusing on oil and gas exploration and production. Headquartered in Houston, Texas, the company operates globally with significant assets in North America, Europe, and Asia. Led by CEO Ryan M. Lance, ConocoPhillips employs around 9,700 people and is involved in unconventional and conventional oil and gas projects, as well as LNG developments.
Bottom Line
Roth Capital's upgrade of ConocoPhillips to a buy rating with a $130 target highlights ongoing interest in the energy giant. Investors track these insights closely, though it's important to remember that such analyst ratings are based on past performance and projections, not real-time trades.
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