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ConocoPhillips Might Have the Most Moderate Upside

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Jan. 23 2019, Updated 7:31 a.m. ET

Analysts’ estimates

ConocoPhillips (COP) might have an upside of 8.9% in the next 12 months based on analysts’ mean target price. In the fourth quarter, oil prices rose 16.3%, while ConocoPhillips rose 8.9%. Based on oil’s gains, the upside should be achievable.

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Lower target price

On January 10, Barclays reduced the target price on ConocoPhillips from $84 to $79. On January 9, J.P. Morgan reduced the target price by $3 to $83. On the same day, Morgan Stanley lowered the target price on ConocoPhillips from $84 to $73. On January 7, UBS and BMO reduced their target price on the stock by $5 and $8, respectively. On January 18, ConocoPhillips stock closed at $67.9.

ConocoPhillips’ peers

Based on analysts’ mean target prices, Devon Energy (DVN), Apache (APA), Diamondback Energy (FANG), and Cimarex Energy (XEC) might have an upside of 34.9%, 17%, 38.7%, and 32.6%, respectively, over the next 12 months.

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