JP Morgan cuts ConocoPhillips PT, sees weaker Q4 cash flow
ReutersJan 13, 2026 11:40 AM
J.P. Morgan cuts PT on oil and gas producer ConocoPhillips COP.N to $98 from $102
New PT represents a 2.6% upside to stock's last close
Says COP's Q4 cash flow is expected to fall due to lower commodity prices, reduced production, smaller Australia Pacific LNG distributions and no tax benefits
"We do expect Venezuela to be a key topic for the call given COP's outstanding liability that stands at $12 billion as well as President Trump's commentary regarding the potential treatment of past losses at last week's meeting with oil company executives" - Brokerage
24 of 30 brokerages rate stock "buy" or higher and 6 "hold"; median PT is $111 - data compiled by LSEG
In 2025, COP fell 5.6%
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