ConocoPhillips (COP) Gets PT Hike from UBS as Oil Price Forecasts Rise

ConocoPhillips (NYSE:COP) is included among the 13 Best Defensive Dividend Stocks for 2025.

On March 5, UBS raised its price recommendation on ConocoPhillips (NYSE:COP) to $144 from $130. It reiterated a Buy rating on the shares. The firm said it continues to view the energy sector as offering an attractive risk/reward profile. The higher target reflects a change in the firm’s oil price outlook. UBS increased its 2026 oil price assumptions by $10 per barrel, now expecting $68 WTI and $72 Brent. The analyst also pointed to a modest expansion in valuation multiples tied to geopolitical risk.

In a research note, the firm said markets may be underestimating the potential for a prolonged conflict in the Middle East and possible disruptions to Qatar’s gas supply. Those risks could push oil and natural gas prices higher. If that scenario plays out, UBS believes companies that produce both oil and gas could see the strongest upside in free cash flow.

ConocoPhillips (NYSE:COP) operates as an exploration and production company. Its Alaska segment focuses on exploring for, producing, transporting, and marketing crude oil, natural gas, and natural gas liquids. The company’s Lower 48 segment includes operations across the 48 contiguous United States as well as the Gulf of Mexico.

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