ConocoPhillips (COP) Favored at Goldman Amid the Middle East Crisis

ConocoPhillips (NYSE:COP) is among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.

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 March 2, the analysts at Goldman Sachs added ConocoPhillips (NYSE:COP) to the firm’s US Conviction List as part of its monthly update. Goldman expects COP to witness a positive free cash flow inflection over the next three years as it shifts from a long period of heavy project investment into a period of ‘investment harvesting’.

ConocoPhillips (NYSE:COP) revealed in its Q4 2025 earnings call last month that it is targeting a $1 billion annual free cash flow growth through 2028 as it accelerates its cost-cutting measures. Moreover, the company expects a further $4 billion cash flow injection when its Willow project in Alaska comes online in 2029. COP is targeting a $1 billion combined reduction in capital spending and operating costs for the current year. Goldman analysts expect the energy giant to grow its cash flow per share at a CAGR of 24% between 2025 and 2030.

Goldman maintains a ‘Buy’ rating on ConocoPhillips (NYSE:COP), while assigning the shares a price target of $125.

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