Piper Sandler Raises PT on ConocoPhillips (COP), Keeps an Overweight Rating

ConocoPhillips (NYSE:COP) is one of the Most Undervalued US Stocks According to Wall Street Analysts. On August 18, Piper Sandler raised the firm’s price target on ConocoPhillips (NYSE:COP) from $123 to $124, while keeping an Overweight rating on the stock.

The firm noted that the company showed resilience in its fiscal second quarter of 2025. The company delivered a revenue of $14.74 billion, reflecting 4.27% year-over-year growth. The revenue fell short of the consensus by $150.41 million; however, the EPS of $1.42 exceeded expectations by $0.06.

The firm highlighted that ConocoPhillips (NYSE:COP) has a unique combination of growth potential, resource depth, and steady shareholder returns. Moreover, the firm also likes the valuation of the company, noting it to be undervalued compared to its peers. Management expects to produce between 2.33 and 2.37 million barrels of oil equivalent per day in the third quarter of 2025. Whereas, the full-year production is forecasted to be slightly higher, ranging from 2.35 to 2.37 MMBOED.

ConocoPhillips (NYSE:COP) is an oil and gas exploration and production company. The company operates in several regions, including Alaska, the United States, Canada, Europe, the Middle East, Asia Pacific, and other international locations.

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Disclosure: None. This article is originally published at Insider Monkey.