ConocoPhillips (COP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
ConocoPhillips (COP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Out of the 11 stock market sectors, energy is the best-performing year to date -- up 7.9% at the time of this writing compared to a 5.1% decline in the S&P 500 (SNPINDEX: ^GSPC).
COP's upstream operations, like EOG and CVX, are highly exposed to the volatility in oil and gas prices, considering the very nature of its business model.
COP is evaluating the sale of Oklahoma assets inherited from Marathon Oil, aiming to raise $2 billion from non-core divestitures to sharpen its focus on key U.S. basins.
ConocoPhillips (COP 0.68%) closed its massive $22.5 billion acquisition of Marathon Oil last November. That deal bolstered its U.S. onshore position in several key regions while expanding its international operations.
ConocoPhillips is exploring the sale of oil and gas assets in Oklahoma that it inherited from its $22.5 billion takeover of Marathon Oil last year, people familiar with the matter said.
ConocoPhillips, a leading E&P company, focuses on disciplined capital allocation and strong shareholder returns, bolstered by the Marathon Oil acquisition. Operations span Alaska, Lower 48, Canada, EMEA, and Asia Pacific, with significant production and strategic assets in each region. The Marathon acquisition adds 2 billion barrels of resources, $500 million in annual savings, and a $7B share buyback commitment, enhancing shareholder value.
ConocoPhillips (COP) closed at $105.39 in the latest trading session, marking a +0.35% move from the prior day.
ConocoPhillips (COP) stock has underperformed peers and the SPDR Energy Sector ETF, but its strong operational and financial performance supports a BUY rating. COP boasts a low-cost production profile; significant assets in the Permian Basin, Alaska, and LNG technology, contributing to its robust free-cash-flow. Despite generating $6.96/share of FCF last year, current price targets by 4 major Street firms average ~$130/share, 25%+ higher than COP's current stock price.
Despite a strong rebound this month, ConocoPhillips (COP -0.11%) stock remains cheap, according to several valuation metrics. But you need to be looking ahead, not behind, to see it.
As is the case with many investors, the post-pandemic period really shifted my interest in growth stocks into overdrive.