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ConocoPhillips (NYSE:COP) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added the stock to its U.S. Conviction List in March, with Business Insider reporting that the firm viewed ConocoPhillips as favorably positioned amid energy price volatility and expected the company’s major projects to support a period of lower capital spending and stronger free cash flow. Goldman also pointed to about 10% upside at the time, making the call more of a cash-generation story than a simple oil-price bet.

Recent developments have kept that angle alive. On May 18, Reuters reported that Glenfarne’s Alaska LNG project secured a 30-year natural gas supply agreement with ConocoPhillips, helping support a final investment decision for the project’s first phase, a 739-mile pipeline from Alaska’s North Slope. On May 19, Reuters also reported that ConocoPhillips expected delays at its Qatar LNG joint ventures to be measured in months rather than years, despite disruption tied to strikes at Ras Laffan and the broader Iran war impact.

ConocoPhillips’ Q1 update added a capital-return layer, with the company reporting $1.89 in adjusted EPS, $5.4 billion in cash from operations, and a second-quarter ordinary dividend of $0.84 per share.

ConocoPhillips (NYSE:COP) is one of the world’s largest independent exploration and production companies based on production and proved reserves.

While we acknowledge the potential of COP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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