Streetbeat News

COP

ConocoPhillips

https://www.conocophillips.com

Industry

Oil & Gas Exploration & Production

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.

Open

112.68

Mkt cap

129B

Volume

4.1M

High

114.05

P/E Ratio

13.20

52-wk high

135.18

Low

111.89

Div yield

0.03

52-wk low

101.30

Ten stocks, including NIO and Best Buy, were the best performers last week. Key drivers included strong earnings reports, raised guidance, and analyst upgrades.

Portfolio Pulse from Lekha Gupta

June 02, 2024 | 2:57 pm

Bill Baruch announced on CNBC that he has bought shares of ConocoPhillips and sold shares of Nucor.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 4:31 pm

ConocoPhillips (NYSE:COP) has been granted the right by a Trinidad and Tobago court to enforce a $1.33 billion claim against Venezuela for past expropriations. This decision allows ConocoPhillips to seize compensation from joint gas projects with Trinidad. The company has been pursuing enforcement in various courts after winning arbitration awards against Venezuela and its state oil company PDVSA. PDVSA had paid around $700 million but stopped payments in late 2019. ConocoPhillips is also involved in a Delaware case to auction shares in Citgo Petroleum’s parent firm to pay creditors. Additionally, BP p.l.c. (NYSE:BP) and Trinidad’s NGC received a two-year license from the U.S. Treasury to negotiate and develop gas fields with Venezuela.

Portfolio Pulse from Lekha Gupta

May 31, 2024 | 10:10 am

Barclays analyst Betty Jiang maintains an Overweight rating on ConocoPhillips (NYSE:COP) and raises the price target from $158 to $160.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:08 pm

ConocoPhillips (COP) is set to acquire Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion. Analysts view the deal positively, expecting it to be accretive on financial metrics and enhance COP's asset base. COP also plans to increase its dividend by 34% and repurchase over $7 billion in shares in the first year. The acquisition is expected to add quality acreage and synergies, though some analysts express concerns about whether it makes COP better or just bigger.

Portfolio Pulse from Lekha Gupta

May 30, 2024 | 6:20 pm

ConocoPhillips (NYSE:COP) has been analyzed by 14 analysts, showing a range of ratings from bullish to bearish. The average 12-month price target has increased to $148.29, with a high of $170.00 and a low of $129.00. Recent analyst actions include several rating upgrades and price target adjustments, reflecting positive sentiment.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:01 pm

A Trinidad High Court judge has ruled that ConocoPhillips can seek compensation from any proceeds from joint gas projects. PDVSA has been given 7 days to challenge this decision.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 4:10 pm

A court in Trinidad and Tobago has recognized ConocoPhillips' $1.33 billion claim against Venezuela's PDVSA and has given the green light for enforcement. ConocoPhillips aims to attach any proceeds or investment reimbursements from joint gas developments between Venezuela and Trinidad.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 4:09 pm

Raymond James analyst John Freeman has reiterated a Strong Buy rating on ConocoPhillips (NYSE:COP) and raised the price target from $155 to $159.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 3:57 pm

ConocoPhillips (COP) is acquiring Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion. Roth MKM analyst Leo Mariani expects a negative short-term reaction for COP, but sees long-term benefits. The deal is expected to be accretive to COP's earnings and cash flow. Mariani maintains a Buy rating on COP with a $144 price target.

Portfolio Pulse from Lekha Gupta

May 29, 2024 | 6:54 pm

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