ConocoPhillips plans to spend $10 billion annually on capital expenditures and reduce debt by $5 billion by 2026. The company aims to generate $115 billion in free cash flow and increase oil and gas production by 5% over the next decade. ConocoPhillips' strategy is based on an average oil price of $60 per barrel, focusing on core operations for growth and shareholder returns.
ConocoPhillips (COP) has filed a lawsuit against the Biden administration over a new rule banning drilling on nearly half of Alaska's National Petroleum Reserve. The oil giant argues that the regulation prioritizes conservation over Congress's energy production mandate.
Investors may want to await a more favorable entry point for ConocoPhillips (COP). This is because shares are somewhat expensive on a relative basis.
The market has recorded an impressive rally over the past year, consistently reaching new record highs week after week. Nevertheless, not all sectors have shared in this success.
The latest trading day saw ConocoPhillips (COP) settling at $114.38, representing a +0.36% change from its previous close.
Listed companies led a comeback for global merger & acquisition in the first half of 2024 after last year saw the lowest total in almost a decade. Global M&A volume grew 17% to $1.6 trillion, with corporate buyers accounting for 73% of announced deal volume, including 20 "megadeals", led of course by US companies.
In the most recent trading session, ConocoPhillips (COP) closed at $113.61, indicating a -1.2% shift from the previous trading day.
ConocoPhillips (COP) closed the most recent trading day at $111.33, moving +1.75% from the previous trading session.
Many companies are taking risks in the current market and being rewarded for them. Whether striking unconventional partnerships, acquiring a competitor, or breaking up their business, many companies are surprising analysts and investors with bold moves aimed at revitalizing their business and securing their future.
In the most recent trading session, ConocoPhillips (COP) closed at $110.89, indicating a -1.16% shift from the previous trading day.
ConocoPhillips (COP) reachead $112 at the closing of the latest trading day, reflecting a -0.18% change compared to its last close.
Investors aiming for diversification can capitalize on the energy sector's potential by adding oil stocks to their portfolios. In early June, the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to extend a voluntary production cut of 2.2 million barrels of crude oil a day into 2025.