Truist raises target for ConocoPhillips stock to USD 136.00
π Truist Securities raised its ConocoPhillips price target to USD 136.00 from USD 130.00 on October 7, 2026.
π° Second-quarter revenue reached USD 19.52 billion, representing a 32.40% increase year over year.
π€ ConocoPhillips agreed to buy 1.00 million tonnes per year of LNG from Venture Global for 20 years starting in 2030.
π The company will report third-quarter 2026 results on November 5, 2026, before the market opens.
π Stock price was USD 135.21 on October 9, 2026, with a market cap of USD 164.7 billion.
π CEO Andy O'Brien will lead management during the upcoming earnings conference call.
Bullish Signals
- Truist Securities raised its price target for ConocoPhillips to USD 136.00 from USD 130.00, signaling continued analyst confidence in the stock's valuation.
- Second-quarter revenue surged 32.40% year over year to USD 19.52 billion, demonstrating strong top-line growth and operational execution.
- The company secured a strategic 20-year LNG supply agreement with Venture Global for 1.00 million tonnes per year starting in 2030.
Full Analysis
Truist Securities raised its price target for ConocoPhillips from USD 130.00 to USD 136.00 on October 7, 2026, while maintaining a Hold rating. This analyst action follows the company's strong second-quarter performance, where revenue surged 32.40% year over year to reach USD 19.52 billion, driven by robust operational results.
ConocoPhillips also secured a significant long-term supply agreement on October 1, 2026, agreeing to purchase 1.00 million tonnes per year of LNG from Venture Global for a 20-year term starting in 2030. While this deal strengthens the company's gas portfolio strategically, deliveries will not impact the upcoming third-quarter earnings report scheduled for November 5, 2026.
Shares of ConocoPhillips traded at USD 135.21 on October 9, 2026, trading within its 52-week range of USD 85.57 to USD 141.62 with a market capitalization of USD 164.7 billion. Investors will be closely watching the upcoming Q3 results for further validation of production levels and margins under CEO Andy O'Brien's leadership.