ConocoPhillips (COP) has seen various movements in the market, gaining at times and falling at others. Investor interest has grown with hedge funds particularly bullish on the energy stock, and there is increasing sentiment that it is a good stock to add to retirement portfolios. It's acquisition of Marathon Oil has been approved, and the merger places COP as the third-largest producer in the US Lower 48 according to Wood Mackenzie. However, there have been opinions about COP being overpriced in the difficult market, with the stock falling 12.6% over three months. Strong recommendations come from Ken Fisher and Royal Bank of Canada, reiterating an 'Outperform' rating, and short sellers seeing it as a good buy at the 52-week low. However, caution over Q2 earnings was demonstrated with revenues increasing year-on-year but missed expectations. A decision to challenge Biden's Arctic Drilling Ban and a choice to tap Raptor Data for plug & abandonment work also indicate active management decisions.
Conocophillips COP News Analytics from Thu, 22 Feb 2024 08:00:00 GMT to Sun, 15 Sep 2024 12:43:03 GMT -
Rating 7
- Innovation 3
- Information 8
- Rumor -2
