Morgan Stanley Reiterates a Buy Rating on ConocoPhillips (COP)

Core Viewpoint - ConocoPhillips (NYSE:COP) is highlighted as a strong long-term investment option, with a recent Buy rating and a price target of $117 set by Morgan Stanley analyst Devin McDermott following the company's Q3 2025 earnings release [1][2]. Financial Performance - The company reported earnings per share of $1.38 and adjusted earnings per share of $1.61 for Q3 2025, indicating solid financial performance [1]. - ConocoPhillips raised its base dividend by 8%, aligning with its objective to achieve top-quartile dividend growth within the S&P 500 [2]. Operational Outlook - The company anticipates lower capital and operating costs in 2026, with expectations of flat to modest production growth [3]. - ConocoPhillips is projected to generate an estimated $7 billion in incremental free cash flow by 2029, with $1 billion expected each year from 2026 through 2028 [3]. Company Overview - ConocoPhillips is an exploration and production company involved in the exploration, transportation, production, and marketing of natural gas, crude oil, and bitumen, operating across various geographical segments including Alaska, Lower 48, Canada, Europe, the Middle East, North Africa, Asia Pacific, and Other International [4].