ConocoPhillips (COP) Price Target Lowered by $6

ConocoPhillips (NYSE:COP) is included among the 10 High Yield Crude Oil Stocks to Buy After Trump's Blitz in Venezuela.

ConocoPhillips (NYSE:COP) is one of the world’s largest independent E&P companies based on oil and natural gas production and proved reserves.

On January 8, Piper Sandler analyst Ryan Todd reduced the firm’s price target on ConocoPhillips (NYSE:COP) from $115 to $109, but maintained an ‘Overweight’ rating on the shares. The lowered target still indicates an upside of almost 12% from the current share price.

As we enter 2026, the analyst believes that the crude oil outlook still looks bearish, making it difficult for the sector to outperform the wider market. However, Piper Sandler believes that the oil refining market looks even better than last year, driven by what it expects to be incrementally tighter S/D and crude differential tailwinds.

ConocoPhillips (NYSE:COP) stands to gain from the recent American action in Venezuela as it is already owed billions by the South American country’s government, which seized the company’s assets without compensation when then-President Hugo Chávez effectively nationalized the country’s oil industry in 2007. As a result, ConocoPhillips took the Venezuelan government to the arbitration court and has since won awards totalling up to $12 billion. However, the South American country has reportedly only paid out a fraction of the amount.

While it is still unclear whether ConocoPhillips (NYSE:COP) will actually receive those claims or reinvest in Venezuela, the prospects of the company recovering billions in damages and regaining access to massive new oil reserves have helped the stock garner strong attraction from investors.

With an impressive annual dividend yield of 3.33% as of the writing of this piece, ConocoPhillips (NYSE:COP) is included in our list of the 12 Best Crude Oil Stocks to Buy for Dividends.

While we acknowledge the potential of COP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.