ConocoPhillips: Stock Buybacks, Growth And 7% Earnings Yield
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ConocoPhillips reported strong Q3 earnings, with a 20% decline in adjusted earnings but better-than-expected results. The acquisition of Marathon Oil is enhancing production and resources, leading to increased stock buybacks. The company generated $1.8B in free cash flow and returned $2.1B to shareholders.
November 20, 2024 | 6:45 pm
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ConocoPhillips reported better-than-expected Q3 earnings and is enhancing production through the acquisition of Marathon Oil. The company is increasing stock buybacks, supported by strong free cash flow.
ConocoPhillips' acquisition of Marathon Oil is expected to significantly boost production and resources, which is a positive indicator for future earnings. The company's ability to generate strong free cash flow and return capital to shareholders through dividends and buybacks is likely to support the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100