ConocoPhillips (COP) has declared plans to reduce its workforce by 20-25%, a move that initially caused shares to fall. Yet, amid these layoffs and restructuring, the energy company has managed to maintain a strong balance sheet to support its long-term stability. In the wake of these cuts, several financial institutions such as Barclays, Roth MKM, and RBC Capital have maintained a buy rating on COP, with PTs up to $123. Furthermore, ConocoPhillips' free cash flow inflection is being closely watched. The company also announced the extension of its partnership with Sempra, involving an offtake agreement for Port Arthur LNG Phase 2. Strategically, ConocoPhillips aims to resize its total personnel to promote margin enhancement and long-term operational efficiency. Moreover, with the possible divestment of its Oklahoma assets to Stone Ridge Energy, the company is committed to pursuing more cost-effective operations. COP has also signed a 20-year deal with Sempra for LNG. Despite market gains, COP stock has dropped, compelling investors and brokers to emphasize its value and recommend it as a good buy.
Conocophillips COP News Analytics from Fri, 07 Mar 2025 08:00:00 GMT to Fri, 05 Sep 2025 21:32:02 GMT -
Rating 5
- Innovation 2
- Information 7
- Rumor 4
