ConocoPhillips (NYSE:COP) is considered one of the top 12 best oil and gas stocks to buy right now, according to Insider Monkey. Recently, Roth Capital increased its price target on ConocoPhillips from $105 to $112 and maintained a Buy rating after the company’s Q4 results. Despite missing Wall Street estimates for Q4 profit due to weaker crude prices, the company remains focused on cost-cutting initiatives.
ConocoPhillips issued unchanged 2026 capex guidance, with capital expenditures expected to be around $12 billion and adjusted operating costs of $10.2 billion. The company is making progress on its $1 billion cost-cutting program, aiming to reduce both capital and operating costs in 2026.
CEO Ryan Lance highlighted the company’s efforts to drive a $1 billion reduction in capital and costs in 2026, building on the $1 billion in run-rate synergies captured in 2025 after acquiring Marathon Oil. ConocoPhillips plans to return 45% of its cash from operations to shareholders.
In 2025, ConocoPhillips announced plans to lower its workforce by 20% to 25% as part of a broader restructuring. Investor concerns still revolve around the timing of significant free cash flow inflection and the usage of cash balance for shareholder returns.
ConocoPhillips is a major American energy company, ranking among the world’s largest independent oil and gas exploration and production companies based on production and proved reserves. While the company shows promise as an investment, there are other AI stocks with greater upside potential and less downside risk.
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Disclosure: None. This article was originally published on Insider Monkey.
