In a report released yesterday, Kalei Akamine from Bank of America Securities maintained a Hold rating on Conocophillips, with a price target of $105.00.
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Kalei Akamine’s rating is based on a combination of factors including Conocophillips’ recent financial performance and future guidance. The company reported better-than-expected earnings per share and cash flow, driven by higher oil realizations and lower operating costs. Despite these positive results, the production guidance for 2026 is modest, with expected growth of only 0-2% from a divestiture-adjusted baseline.
Additionally, while the company has raised its dividend, resulting in a yield of 3.83%, the WTI dividend breakeven is relatively high at $51 per barrel, which poses a risk in a potentially volatile oil price environment. The capital expenditure guidance for the Willow project has increased due to inflation and cost escalations, which could impact future profitability. These factors contribute to maintaining a Hold rating, as the stock’s potential upside is balanced by these risks.
According to TipRanks, Akamine is an analyst with an average return of -4.5% and a 35.29% success rate. Akamine covers the Energy sector, focusing on stocks such as California Resources Corp, EQT, and National Fuel Gas Company.
In another report released today, Scotiabank also maintained a Hold rating on the stock with a $100.00 price target.