COP Stock Recent News

The COP-MRO merger is expected to close by the end of the fourth quarter of 2024.

Marathon Oil shareholders on Thursday approved the U.S. oil producer's nearly $16 billion acquisition by ConocoPhillips , the company said.

HOUSTON , Aug. 29, 2024 /PRNewswire/ -- Marathon Oil Corporation (NYSE: MRO) ("Marathon Oil") announced today that it received the necessary stockholder approval for Marathon Oil's pending merger with ConocoPhillips (NYSE: COP). Marathon Oil will file the vote results of the special stockholder meeting in a Form 8-K with the U.S. Securities and Exchange Commission (the "SEC").

COP has awarded a contract to Aberdeen-based Raptor Data for plug and abandonment work in Norway's Greater Ekofisk area, utilizing advanced technology.

ConocoPhillips is a top pick in the energy sector, boasting strong production growth and a robust asset portfolio in key regions. The Marathon Oil acquisition is expected to boost cash flow, enhance asset base, and drive a 34% dividend increase and accelerated share buybacks. COP's strong balance sheet, low debt ratio, and disciplined capital allocation support continued dividend growth and potential market-beating returns.

Favorable oil price is aiding ConocoPhillips' (COP) bottom line. However, the stock is exposed to commodity price volatility.

ConocoPhillips (COP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

While it's become a popular theme to buy when others are fearful, it's not necessarily the best approach to follow blindly. That goes for stocks at one-year lows.

ConocoPhillips continues to produce strong cash flow. The oil giant aims to return at least $9 billion in cash to shareholders this year.

ConocoPhillips. (NYSE:COP ) Q2 2024 Earnings Conference Call August 1, 2024 12:00 PM ET Company Participants Phil Gresh - Vice President, Investor Relations Ryan Lance - Chairman & Chief Executive Officer William Bullock - Executive Vice President & Chief Financial Officer Andrew O'Brien - Senior Vice President of Strategy, Commercial Sustainability & Technology Nicholas Olds - Executive Vice President, Lower 48 Kirk Johnson - Senior Vice President, Global Operations Conference Call Participants Neil Mehta - Goldman Sachs Doug Leggate - Wolfe Research Scott Hanold - RBC Capital Markets Betty Jiang - Barclays Stephen Richardson - Evercore ISI John Royall - JPMorgan Roger Read - Wells Fargo Ryan Todd - Piper Sandler Neal Dingmann - Truist Leo Mariani - ROTH Kalei Akamine - Bank of America Bob Brackett - Bernstein Research Kevin MacCurdy - Pickering Energy Partners Paul Cheng - Scotiabank Joshua Silverstein - UBS Operator Welcome to the Second Quarter 2024 ConocoPhillips Earnings Conferen