ConocoPhillips Announces $1B Cost-Cutting And Divestment Push

ConocoPhillips reported fourth-quarter results and on February 5 Roth Capital Partners raised its price target to $112 from $105 while keeping a Buy rating. The company announced plans to cut $1 billion in capital and operating costs in 2026, completed $3.2 billion in asset sales in 2025, and plans 20–25% workforce reductions. Roth expects modest 2027 production growth of about 2% volumes and roughly 1% oil growth.