COP vs CVX: Which Is the Better Buy?
Side-by-side comparison of ConocoPhillips and Chevron Corporation — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-04-11.
ConocoPhillips · Energy
$122.55
-21.4% upside to fair value
Grade D
VS
Chevron Corporation · Energy
$188.52
-23.1% upside to fair value
Grade D
QuantHub Verdict
COP has more upside to fair value
(-21.4%).
COP trades at a lower forward P/E
(19.3x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
COP |
CVX |
| Current Price |
$122.55 |
$188.52 |
| Fair Value Estimate |
$96.36 |
$145.00 |
| Upside to Fair Value |
-21.4%
|
-23.1%
|
| Market Cap |
$149.8B |
$376.9B |
| Forward P/E |
19.3x
|
22.9x
|
| EV / EBITDA |
5.8x
|
7.8x
|
| Price / Sales |
2.5x
|
1.5x
|
| Price / FCF |
8.9x
|
17.0x
|
| Revenue Growth YoY |
+7.5%
|
-4.6%
|
| Gross Margin |
24.6%
|
30.4%
|
| Operating Margin |
19.6%
|
9.0%
|
| Return on Equity |
12.39%
|
6.6%
|
| Dividend Yield |
3.41% |
4.52% |
| FCF Yield |
10.9%
|
5.89%
|
| Analyst Consensus |
Buy
|
Buy
|
Investment Thesis
ConocoPhillips is the largest U.S. independent exploration and production company, operating approximately 2.4 million barrels of oil equivalent per day across its Lower 48, Alaska, Canada, and international segments. The company completed its transformative $22.5 billion Marathon Oil acquisition in late 2024 and is on track for $2 billion in cost synergies by the end of 2026. Full-year 2025 reve…
Chevron Corporation is a leading integrated oil and gas major with global upstream and downstream operations, a fortress balance sheet, and a shareholder-friendly capital return program. Under CEO Mike Wirth, the company has prioritized disciplined capital allocation, returning over $27 billion to shareholders in 2024 alone through buybacks and dividends, while maintaining a 38-year streak of con…
Accumulation Zones
| Metric |
COP |
CVX |
| Zone Low |
$72.27 |
$108.75 |
| Zone High |
$81.91 |
$123.25 |
| In Buy Zone? |
No
|
No
|