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 2026-05-01.
ConocoPhillips · Energy
$125.78
-2.1% upside to fair value
Grade C
VS
Chevron Corporation · Energy
$193.33
-18.2% upside to fair value
Grade D
QuantHub Verdict
COP has more upside to fair value
(-2.1%).
COP trades at a lower forward P/E
(21.0x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
COP |
CVX |
| Current Price |
$125.78 |
$193.33 |
| Fair Value Estimate |
$123.15 |
$158.09 |
| Upside to Fair Value |
-2.1%
|
-18.2%
|
| Market Cap |
$153.3B |
$385.8B |
| Forward P/E |
21.0x
|
31.3x
|
| EV / EBITDA |
7.5x
|
10.3x
|
| Price / Sales |
2.6x
|
2.1x
|
| Price / FCF |
8.4x
|
23.8x
|
| Revenue Growth YoY |
-2.5%
|
-5.3%
|
| Gross Margin |
33.1%
|
30.4%
|
| Operating Margin |
25.4%
|
9.0%
|
| Return on Equity |
11.3%
|
7.3%
|
| Dividend Yield |
0% |
0% |
| FCF Yield |
11.96%
|
4.19%
|
| Analyst Consensus |
Strong Buy
|
Strong Buy
|
Investment Thesis
ConocoPhillips is a leading independent oil and gas exploration and production company with a strong focus on low-cost shale assets and sustainability initiatives. The company benefits from a durable competitive position due to its cost advantage and early ESG leadership, but faces near-term earnings pressure as revenue declined 2.5% and earnings fell 23.4% in the most recent quarter year-over-ye…
Chevron Corporation operates as a leading integrated oil and gas company with significant upstream and downstream operations. The company benefits from experienced leadership under CEO Mike Wirth, who has over 44 years with Chevron, and maintains a strong market position as the second largest Big Oil major by market cap and net profits. However, Chevron currently trades at a very expensive valuat…
Accumulation Zones
| Metric |
COP |
CVX |
| Zone Low |
$92.36 |
$118.57 |
| Zone High |
$104.68 |
$134.38 |
| In Buy Zone? |
No
|
No
|