ConocoPhillips Sees Bullish Outlook Amid Free Cash Flow Growth

ConocoPhillips is expected to generate over $7 billion in incremental free cash flow by 2029, prompting an upgrade to the stock. Analysts forecast an average price target of $116.08, with a potential upside of 23.20% from the current price of $94.23. The stock holds an "Outperform" status with a 1.9 average brokerage recommendation.

ConocoPhillips (COP), a major player in the energy sector, has been the subject of a significant upgrade by financial analysts, driven by impressive free cash flow projections. The stock, currently trading at $94.23, is expected to generate over $7 billion in incremental free cash flow by 2029, according to Wall Street analysts [1].

Analysts are forecasting an average price target of $116.08 for ConocoPhillips, indicating a potential upside of 23.20% from the current price. This optimism is reflected in the stock's "Outperform" status, backed by an average brokerage recommendation of 1.9 [1].

The upgrade comes on the heels of ConocoPhillips' successful merger with Marathon Oil and the company's impressive organic free cash flow enhancement. RBC Capital, one of the leading investment firms, has reiterated its Outperform rating and a price target of $113.00, citing the inflection point in the company’s organic free cash flow [2].

ConocoPhillips' strong financial performance is further evidenced by its second-quarter earnings report for 2025, which exceeded expectations. The company reported an earnings per share (EPS) of $1.42, compared to the forecasted $1.38, and revenue of $15 billion against the anticipated $14.91 billion [2].

The company's strategic initiatives and operational performance have also garnered praise from analysts. RBC Capital highlights ConocoPhillips' "top tier operational performance," noting that the company maintained unchanged production levels despite completing an asset sale and experiencing changes to royalties on the Surmont project [2].

With the company's strong financial outlook and analysts' positive ratings, investors are keeping a close watch on further developments from ConocoPhillips as the year progresses. The stock's recent performance and positive analyst sentiment suggest that ConocoPhillips remains a compelling investment opportunity.

References:
[1] https://www.gurufocus.com/news/3067613/conocophillips-cop-sees-upgrade-amid-free-cash-flow-growth
[2] https://ca.investing.com/news/analyst-ratings/conocophillips-stock-maintains-outperform-rating-at-rbc-as-free-cash-flow-improves-93CH-4159997