Susquehanna analyst Charles Minervino lowered the firm’s price target on ConocoPhillips (COP) to $114 from $120 and keeps a Positive rating on the shares. The firm said they reported 1Q results, with a beat on both production and EPS. FY2025 capex was lowered by about $500MM as the company defers some discretionary capital and benefits from capital efficiency improvements. Also, they returned $2.5B to shareholders in 1Q and remains committed to its minimum 45% of CFO target.
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