Analyst David Deckelbaum from TD Cowen maintained a Buy rating on Conocophillips (COP – Research Report) and keeping the price target at $125.00.
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David Deckelbaum’s rating is based on Conocophillips’ strong fourth-quarter performance, where the company exceeded production and cash flow forecasts. Specifically, Conocophillips outperformed projections with a 2% higher production and an 8% increase in EBITDAX, which was partly due to favorable pricing in key regions like the Lower 48 and the North Sea. These results demonstrate the company’s operational efficiency and ability to generate substantial cash flow, bolstering investor confidence.
Moreover, the company’s strategic financial maneuvers, including share buybacks and dividend payments, further enhance its appeal. Conocophillips’ guidance for 2025 underscores a commitment to efficiency improvements and capital discipline, with capital expenditures and operating expenses aligning well with expectations. The return of capital target of $10 billion also signals a robust shareholder return strategy, despite being slightly lower than previous estimates, which supports a Buy recommendation from the analyst.
According to TipRanks, Deckelbaum is an analyst with an average return of -3.7% and a 37.21% success rate. Deckelbaum covers the Energy sector, focusing on stocks such as Conocophillips, EQT, and Diamondback.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $125.00 price target.