7/102 sources · 2 publishersUpdated Nov 11, 20:23 UTC
Freedom Broker downgrades ConocoPhillips to Hold and raises price target to $138
Freedom Broker lowered ConocoPhillips' rating from Buy to Hold while lifting its price target to $138. The analyst cited the stock's recent rally despite strong third‑quarter 2026 results, which included adjusted earnings of $3.27 per share. The company also expanded its share buyback to $2.4 billion and increased its quarterly dividend by 11%.
Why it matters
The downgrade may temper investor enthusiasm, but the higher price target suggests upside of about 1.8% from the recent close, according to the analyst. The larger buyback and dividend hike underline the firm’s cash‑return strategy.
Key facts
- 1Freedom Broker changed ConocoPhillips' rating to Hold from Buy. investing.com
- 2The firm raised its price target to $138. investing.com
- 3Adjusted earnings per share for Q3 2026 were $3.27. investing.com
- 4ConocoPhillips increased its share buyback program to $2.4 billion. investing.com
- 5The quarterly dividend was raised by 11%. investing.com
- 6The analyst noted a 1.8% upside from the Nov 10 close of $135.59. tradingview.com
Open questions
- Material 1 says the prior price target was $122, while Material 2 says it was $132.
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.