JPMorgan's Arun Jayaram just initiated coverage of ConocoPhillips COP with a Neutral rating and a price target of $126, down from the previous target of $139.
In the latest trading session, ConocoPhillips (COP) closed at $111.86, marking a +0.8% move from the previous day.
Amid rising oil prices, companies like COP, OXY and EPSN are set to benefit from favorable market conditions.
Amid geopolitical tensions in the Middle East, Jefferies analysts have highlighted oil levered companies that have underperformed, and therefore are attractively priced. In recent developments, Iran launched an estimated 181 ballistic missiles at Israel last Tuesday, prompting speculation about the potential consequences, with expectations that Israel will respond.
In the latest trading session, ConocoPhillips (COP) closed at $114.54, marking a +1.89% move from the previous day.
ConocoPhillips COP shares closed higher on Tuesday.
Heightened tensions in the Middle East caused the market to fall, but oil and defense stocks to rise.
ExxonMobil, Chevron and ConocoPhillips paid more than $42 billion to foreign governments in 2023, eight times more than what they paid in the United States, according to new SEC disclosures.
The latest trading day saw ConocoPhillips (COP) settling at $105.28, representing a +0.53% change from its previous close.
A Trinidad court backs COP's claim to seize PDVSA payments, as the U.S. energy giant seeks to recover funds following Venezuela's expropriation of its assets.
ConocoPhillips can succeed even under less-than-ideal conditions. Lower borrowing costs give ConocoPhillips greater flexibility.
Continued worries over the effects of a production boost at OPEC+ hurt crude oil prices on Thursday. Additionally, China's economy looks weaker than at any time in the last six months, implying weak demand on top of strong supply.