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.
The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
Upstream players like EOG, COP and FANG are embracing the strategy of production expansion to benefit from potentially profitable crude prices.
After a 4% increase since the beginning of this year, at the current price of around $121 per share, we believe ConocoPhillips (NYSE: COP), a pure-play oil and natural gas prodaucer, looks fairly priced at this point. In the recent first quarter, the company saw lower natural gas prices and increased costs offset higher oil production volumes.