Goldman recommends these energy stocks to play the slump in crude oil [CNBC]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
conocophillips.com/investor-relations/investor-presentations
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Source: CNBC
U.S. crude oil as well as the global benchmark Brent closed Tuesday at their lowest levels since December 2021 , as bearish sentiment overtook markets due to worries that future demand is softening. Crude oil futures rebounded somewhat Wednesday, but the U.S. benchmark and Brent are still down about 8.5% and 10.4%, respectively, in September. “For those looking to add to Energy on weakness, we recommend companies with high quality asset bases, valuation support and strong balance sheets that can withstand a period of heightened uncertainty/volatility,” Goldman analysts led by Neil Mehta told clients in a Wednesday note. Among so-called U.S. majors, companies with both exploration and production and refining and marketing operations, Goldman sees value in ConocoPhillips , “especially as the company leans into its shareholder returns through year-end,” Mehta said. Conoco is down 9.7% this month and 11.5% for the year. Wall Street analysts have an average stock price target of $
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COP
News
- ConocoPhillips (NYSE: COP) had its price target lowered by analysts at UBS Group AG from $153.00 to $140.00. They now have a "buy" rating on the stock.MarketBeat
- Chevron CEO slams Biden LNG export pause as 'undermining' energy security [Seeking Alpha]Seeking Alpha
- ConocoPhillips CEO Ryan Lance on falling oil prices, energy demand and rate cuts [CNBC]CNBC
- 3 Ways Bitcoin Could Impact The U.S. Economy [Forbes]Forbes
- ConocoPhillips (NYSE: COP) had its price target lowered by analysts at Mizuho from $132.00 to $129.00. They now have a "neutral" rating on the stock.MarketBeat
COP
Earnings
- 8/1/24 - Miss
COP
Sec Filings
- 9/12/24 - Form SD
- 9/4/24 - Form 4
- 9/4/24 - Form 3
- COP's page on the SEC website