The Outlook: Nov. 18, 2025

The author expects Conoco to hit its $14 billion free cash flow target by 2030 or possibly earlier, and argues that the likelihood of COP still trading around $90 will approach zero, with the market eventually recognizing and rewarding Conoco's achievement.

“Conoco will hit that target by 2030 or possibly earlier . . . and long before then, the likelihood that COP will still be wallowing around at $90 will have approached zero. Like the rest of Main Street, Conoco is in the business of creating cold cash by its hard work and inventiveness. Just as the market crowd did after all those other green arrow lows, up there, it will recognize and reward Conoco's achievement”