Why ConocoPhillips' Possible $15 Billion Bid For Marathon Oil Is A Defensive Move
The energy sector is taking in the news of yet another potential oil and gas merger and acquisition (M&A) play, as reports suggest ConocoPhillips ConocoPhillips may be lining up all-stock bid for Marathon Oil Marathon Oil . But quite like many other traditional energy deals before it, this too appears to be about consolidation and not growth.
ConocoPhillips to buy Marathon Oil in $17.1 billion all-stock deal that bolsters shale assets
ConocoPhillips to buy Marathon Oil in $17.1 billion all-stock deal that bolsters shale assets
ConocoPhillips reportedly in advanced talks to acquire Marathon Oil in $15bn deal
ConocoPhillips (NYSE:COP, ETR:YCP) is in advanced talks to acquire Marathon Oil Corp (NYSE:MRO) in an all-stock transaction valued at over $15 billion, according to the Financial Times. The takeover could be announced soon, though there is still a chance it could fall apart or face a rival bid, the newspaper added.
Marathon Oil Stock Climbs on Report It Could Be Bought by ConocoPhillips
ConocoPhillips is in advanced talks to buy Marathon Oil, the Financial Times reports.
Why a possible ConocoPhillips/Marathon Oil merger may be the last among the majors
With ConocoPhillips reportedly on the cusp of an all-stock deal to buy Marathon Oil Corp., the end of several years of consolidation among the industry's big players is nigh.
ConocoPhillips in advanced talks to buy Marathon Oil, FT reports
ConocoPhillips is in advanced talks to buy Marathon Oil in an all-stock deal that could value the Houston-based company at a little over its $15 billion market value, the Financial Times reported on Wednesday, citing people briefed on the matter.
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Meridian Wealth Management LLC Buys 247 Shares of ConocoPhillips (NYSE:COP)
Meridian Wealth Management LLC boosted its stake in ConocoPhillips (NYSE:COP – Free Report) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,919 shares of the energy producer’s stock after purchasing an additional 247 shares during the period. Meridian Wealth Management LLC’s holdings in ConocoPhillips were worth $339,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Alphinity Investment Management Pty Ltd purchased a new position in ConocoPhillips during the third quarter valued at approximately $310,102,000. Capital Wealth Planning LLC lifted its holdings in ConocoPhillips by 45,426.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after purchasing an additional 1,425,946 shares in the last quarter. International Assets Investment Management LLC boosted its stake in ConocoPhillips by 13,905.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after purchasing an additional 1,106,305 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of ConocoPhillips during the third quarter worth $99,676,000. Finally, Pacer Advisors Inc. increased its holdings in ConocoPhillips by 29.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock valued at $397,288,000 after acquiring an additional 776,107 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors. Insider Activity at ConocoPhillips In other news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is owned by company insiders. Analyst Upgrades and Downgrades COP has been the subject of several research reports. Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their price target on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Truist Financial cut their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Susquehanna increased their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Morgan Stanley lifted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.24. Get Our Latest Stock Analysis on COP ConocoPhillips Stock Up 1.6 % COP opened at $121.71 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $98.38 and a twelve month high of $135.18. The company has a market cap of $142.34 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. The company has a 50-day moving average price of $125.79 and a 200 day moving average price of $117.74. ConocoPhillips Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.56%. ConocoPhillips’s payout ratio is 26.27%. ConocoPhillips Company Profile (Free Report) ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects. Read More Five stocks we like better than ConocoPhillips How to Use the MarketBeat Excel Dividend Calculator JD’s Earnings Could Mean Chinese Stocks Making a Comeback Overbought Stocks Explained: Should You Trade Them? Canada Goose Flies Higher Driven By DTC Growth What is a SEC Filing? CVS Health Stock Has a Silver Lining Called Value
ConocoPhillips: Delaware, Willow And The Decade Of Low-Risk Growth
ConocoPhillips is the largest independent oil and gas producer in North America, with a focus on the Permian Basin. The company's long-term investment strategy is based on growth in well-established reservoirs, primarily in North America. ConocoPhillips has a track record of operational excellence and countercyclical capital allocation, making it a low-risk investment over the long term.
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