Lower oil prices are dragging down exploration and production companies. UPS, Toyota, and Estee Lauder are cyclical companies that are experiencing slowing growth.
COP signs a long-term agreement with Uniper to supply natural gas via pipelines and not as liquefied natural gas.
In the latest trading session, ConocoPhillips (COP) closed at $110.55, marking a +1.78% move from the previous day.
German energy company Uniper and U.S. oil and gas producer ConocoPhillips said they have agreed a supply deal for up to 10 billion cubic metres (bcm) of natural gas over the next 10 years.
Favorable oil price is aiding ConocoPhillips' (COP) bottom line. However, the stock is exposed to commodity price volatility.
CNBC's Brian Sullivan with ConocoPhillips CEO Ryan Lance, join 'Closing Bell' to discuss natural gas, energy demand, falling oil prices and more.
ConocoPhillips CEO Ryan Lance on Tuesday called on the U.S. government to end "this crazy LNG (permit) pause" and allow the country to lead the liquefied natural gas industry.
ConocoPhillips is a strong buy due to solid production growth, attractive capital return potential, and a cheap forward P/E ratio of 10.9X. The acquisition of Marathon Oil enhances ConocoPhillips' earnings and free cash flow, complementing its existing assets in key basins. ConocoPhillips generated $2.1B in free cash flow in Q2, returning $1.9B to shareholders through stock buybacks and dividends.
ConocoPhillips (COP) closed the most recent trading day at $103.50, moving +0.58% from the previous trading session.
The jury is out as to whether September is truly a seasonally bearish period for stocks.
Weak demand from China is combining with an expected production increase at OPEC to drive oil prices lower today. When oil prices fall, oil stock prices follow them down.
The COP-MRO merger is expected to close by the end of the fourth quarter of 2024.