ConocoPhillips (COP) has been demonstrating a strong performance in recent times. Their
Q3 2024 results surpassed estimates, leading to a higher annual output forecast due to operational efficiencies. Considerable stake selling has occurred with Capital Advisors, SteelPeak Wealth, abrdn plc, and Asahi Life Asset Management among those who reduced their holdings. Interestingly,
ConocoPhillips stock has been rising in the market, despite overall market slips. Additionally, Hedge Funds see the company favorably, advocating that it is a valuable stock for adding to investment portfolios, including for retirement. A significant development is its planned acquisition of Marathon Oil for $22.5B, which, despite leading to more than 500 job cuts in Texas, is expected to boost production. Analysts contend that this strategic merger makes
ConocoPhillips undervalued by approximately 40% and project price targets between $137 and $148. It is important to note that
ConocoPhillips missed EPS estimates at $1.76 in Q3 2024 but managed to match revenue expectations at $14.02 billion.
Conocophillips COP News Analytics from Wed, 29 May 2024 07:00:00 GMT to Sat, 02 Nov 2024 14:55:46 GMT -
Rating 6
- Innovation 4
- Information 8
- Rumor -2
