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

Phillips 66 (NYSE:PSX) stock price increased after Elliott Investment Management announced a $1 billion investment in the company, becoming one of its largest investors. Elliott highlighted Phillips 66's underperformance compared to peers like Marathon Petroleum Corporation (NYSE:MPC) and Valero Energy Corporation (NYSE:VLO), and suggested potential for a 75% upside in stock value. Elliott criticized Phillips 66's operational focus and lack of opex discipline, suggesting board changes and supporting CEO Mark Lashier's strategy to reach $14 billion in EBITDA by 2025. PSX shares rose 3.58% to $122.22.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 3:08 pm

BP's shares have dropped nearly 17% since their 2023 peak, underperforming compared to ConocoPhillips and Exxon Mobil. RBC Capital Markets believes BP is undervalued and has raised its price target, citing reasons such as BP's commitment to shareholder returns, its profitable trading division, and a significant restructuring program. Chevron's shares have also fallen sharply, exacerbated by a $53 billion acquisition of Hess, making both BP and Chevron potentially attractive at current valuations.

Portfolio Pulse from Neil Dennis

November 27, 2023 | 4:22 pm

Energy company stocks are down due to a decline in oil prices following OPEC+'s decision to postpone its meeting from Nov. 25-26 to Nov. 30.

Portfolio Pulse from Benzinga Newsdesk

November 22, 2023 | 2:34 pm

OPEC is considering additional production cuts of 1 million barrels a day to support falling oil prices, on top of the existing 5 million b/d reduction. Crude oil prices rose on Monday, with Brent crude at $82.38 a barrel and WTI at $77.77. Oil majors Chevron, ConocoPhillips, and ExxonMobil have seen stock declines over the past month. The United States Oil Fund ETF also rose on Monday. The potential cuts are in response to fears of reduced demand due to slowing global growth and high interest rates.

Portfolio Pulse from Neil Dennis

November 20, 2023 | 6:32 pm

Over the past 3 months, 9 analysts have provided their ratings on ConocoPhillips (NYSE:COP), with 5 being bullish, 3 somewhat bullish, and 1 indifferent. The average 12-month price target for COP is $143.44, with a high of $160.00 and a low of $125.00. This target has increased by 3.19% over the past month. Analyst ratings are important as they provide investors with insights into stock performance based on financial analysis and industry trends.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 5:00 pm

RBC Capital has reaffirmed its Outperform rating on ConocoPhillips (NYSE:COP) and increased its price target from $130.00 to $135.00. ConocoPhillips' stock is currently trading at $116.00, up 0.55% from the previous day. The new price target suggests a potential upside of 16.38%. ConocoPhillips is an independent oil and gas company with significant production and reserves.

Portfolio Pulse from Benzinga Insights

November 14, 2023 | 5:00 pm

RBC Capital analyst Scott Hanold has reaffirmed an Outperform rating on ConocoPhillips (NYSE:COP) and increased the price target from $130 to $135.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 4:56 pm

ConocoPhillips (NYSE:COP) has received judicial approval for its $7.5 billion Willow oil project in Alaska, which is estimated to hold around 600 million barrels of oil. The project, which faced opposition from environmental advocates, is expected to produce approximately 180,000 barrels of oil daily. The company is preparing for on-site operations, which could start as early as the upcoming winter season.

Portfolio Pulse from Shivani Kumaresan

November 10, 2023 | 1:54 pm

Shares of several energy companies are trading lower due to increased demand uncertainty following Chinese economic data.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 5:55 pm

A financial giant has made a bearish move on ConocoPhillips (NYSE:COP), with 70% of traders showing bearish tendencies. The whales have been targeting a price range from $110.0 to $120.0 for ConocoPhillips over the last 3 months. The price of COP is down -1.74% at $116.41. Susquehanna keeps a Positive rating on ConocoPhillips with a target price of $152.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 4:45 pm

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