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Can you afford to wait another year for oil prices to rise? Can you afford not to buy oil stocks before they do?
ConocoPhillips could deliver a high-octane income stream.
ConocoPhillips is a strong long-term investment with a solid asset portfolio, impressive 5-year returns, and a decent 3.19% dividend yield. Q2 highlights include $14.1B in revenue and $2.3B in net income, driven by strong Canadian assets and high petroleum prices due to OPEC+ production cuts. COP's valuation ratios, including P/E and EV/EBITDA, suggest it offers better value compared to peers, despite trading at a premium in some metrics.
ConocoPhillips (COP) closed at $110.49 in the latest trading session, marking a -1.22% move from the prior day.
Amid rising oil prices, companies like COP, OXY and EPSN are set to benefit from favorable market conditions.
Investors may monitor upstream companies like EOG Resources, ConocoPhillips and Occidental as oil prices rise & borrowing costs fall.
In the latest trading session, ConocoPhillips (COP) closed at $114.54, marking a +1.89% move from the previous day.
ConocoPhillips COP shares closed higher on Tuesday.
Heightened tensions in the Middle East caused the market to fall, but oil and defense stocks to rise.
ExxonMobil, Chevron and ConocoPhillips paid more than $42 billion to foreign governments in 2023, eight times more than what they paid in the United States, according to new SEC disclosures.