If you’re checking the COP stock price today per share, you probably noticed the energy markets are a bit of a rollercoaster right now. Honestly, it’s been a wild week for ConocoPhillips. As of the market close on Friday, January 16, 2026, the stock settled at $98.18.
That’s a slight dip of about 0.75% from the previous day. Throughout the trading session, the price bounced around between $97.13 and $98.95. It’s not a massive swing, but when you’re dealing with a company that has a market cap of over $121 billion, every cent matters to the big institutional players.
The energy sector is weird lately. You’ve got geopolitical tensions in the Middle East on one hand and massive regime changes in places like Venezuela on the other. It feels like everyone is trying to guess which way the wind blows before the next headline hits the wire.
Why the $98 Level is Such a Battleground
Investors are obsessed with the $100 mark. It’s a psychological barrier. Earlier this week, specifically on Wednesday, January 14, the stock actually broke past that, hitting a high of $101.91. People got excited. Then, the inevitable "profit-taking" happened, and we’re back under that triple-digit ceiling.
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Right now, ConocoPhillips is trading much closer to its 52-week high of $106.20 than its low of $79.88. If you bought in during the slump last April, you’re feeling pretty good about yourself. But if you're looking to enter today, the question is whether there’s any gas left in the tank—pun fully intended.
The Analyst Perspective
Wall Street seems surprisingly bullish, despite the recent sideways movement. Wells Fargo recently upgraded their outlook to Overweight, and if you look at the consensus from about 65 different analysts, the median price target is sitting way up at $124.92. Some aggressive estimates even call for $160.00.
Of course, analysts aren't always right. BofA (Bank of America) actually downgraded the stock to Underperform just a few hours ago, citing valuation concerns. They basically think the stock has run up too fast and the dividend yield, while solid at roughly 3.24%, might not be enough to keep the momentum going if oil prices soften.
The "Trump Trade" and the Venezuela Factor
You can't talk about the COP stock price today per share without mentioning the massive shift in South American politics. With the recent capture of Maduro and the potential for U.S. oil majors to return to Venezuela, ConocoPhillips is in a unique spot.
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Remember, ConocoPhillips has a history there. They had billions in assets seized years ago and have been chasing arbitration claims ever since. If the new administration in Washington manages to open those taps back up, COP could be looking at a significant recovery of lost value.
But it’s a double-edged sword. More Venezuelan oil on the global market means lower crude prices. If oil drops to $55 or $50 a barrel as some fear, the "low-cost producer" advantage of ConocoPhillips becomes their primary shield. They claim they can break even in the mid-$40s, which is better than most, but it’s still not a fun environment for growth.
Breaking Down the Fundamentals
Numbers can be boring, but they tell the real story of why the price is where it is.
- P/E Ratio: Currently around 13.89. For comparison, that’s right in line with the industry average. It's not "screaming cheap," but it’s certainly not overvalued like some tech stocks.
- Dividends: The company recently hiked its dividend by 8%. They are clearly trying to keep shareholders happy while they integrate the massive $22.5 billion Marathon Oil acquisition.
- Cash Flow: This is the big one. Analysts at Wolfe Research are looking for a $1 billion increase in free cash flow through 2026.
Honestly, the Marathon Oil deal is the real engine here. By high-grading their portfolio and selling off the expensive, "junkier" assets, ConocoPhillips is trying to become a lean, mean, cash-generating machine.
What to Watch Next Week
The next big date on the calendar is Thursday, February 5, 2026. That’s when the fourth-quarter earnings report drops. Expect the stock to be "choppy" until then. If they beat expectations on production volume from the Permian Basin, we could see that $100 level get smashed for good.
If you’re holding the stock, the dividend is your best friend. If you’re trading it, keep a close eye on the $97.13 support level. If it breaks below that, the next stop could be the mid-90s.
Energy stocks are never a "set it and forget it" kind of deal. They require babysitting. Between the 25% tariffs being discussed for certain international deals and the seizing of oil tankers in the Persian Gulf, the macro environment is basically a minefield.
Actionable Steps for Investors
If you're looking at the COP stock price today per share and wondering what to do, here are a few things to keep in mind. First, check your exposure to the energy sector as a whole. If you're already heavy on Exxon or Chevron, adding COP might be redundant since they all tend to move with the price of crude.
Second, look at the PEG ratio, which is currently around 2.71. This suggests the stock is priced for some pretty decent growth already. If you're a value investor, you might wait for a dip toward the $90 mark. If you're a momentum trader, you're probably waiting for a daily close above $102 to confirm the breakout.
Finally, keep an eye on the "breakeven" updates. ConocoPhillips is aiming to get their operational breakeven down into the low $30s by the end of the decade. That's the kind of long-term "moat" that protects you from a total market collapse.
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Monitor the daily volume. Friday's volume was about 8.9 million shares, which is slightly above average. High volume on a down day usually means there's some selling pressure that hasn't fully cleared out yet. Wait for the dust to settle on Monday morning before making any big moves.