ConocoPhillips Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
ConocoPhillips (COP), based in Houston, Texas, is a leading entity in the energy sector, specifically focused on Oil & Gas Exploration and Production. Founded in 1917, the company engages in the exploration, production, transportation, and marketing of crude oil, natural gas, and various energy products. ConocoPhillips operates extensively in the U.S. and internationally, with strategic assets located in Canada, China, Libya, Malaysia, Norway, and the United Kingdom. The company’s portfolio features both unconventional and conventional energy assets, alongside investments in liquefied natural gas and oil sands. With over a century in the global energy landscape, ConocoPhillips continues to demonstrate growth and stability.
Market Performance Insights
The Oil & Gas Exploration and Production (E&P) industry is on the verge of significant growth, leading analysts to recommend ConocoPhillips as a “buy.” The target high price is set at $161, while the stock is currently priced at $109.87. This projection highlights the potential for substantial appreciation—approximately 46% upside potential. The company reported a remarkable total revenue of about $58.08 billion, positioning it favorably within a thriving market. Further analysis indicates a short interest of about 1.79% of its float, with investors leaning bullishly on the stock, depicted by the relatively low level of short selling.
Investment Analysis and Projections
Current trading data reveal a fifty-day moving average of $109.74, with the company’s recent performance marked by a 52-week high of $135.18 and a low of $101.30, indicating a significant historical volatility. The overall investment sentiment remains positive, supported by coverage from 24 analysts with a recommendation mean of 1.9, suggesting that stakeholders should consider investing in this asset. The expected target mean price is $136.30, with a target median price slightly higher at $136.50, underscoring a strong outlook for future growth in a competitive energy market. While the absence of EBITDA data necessitates further investigation, ConocoPhillips appears strategically positioned for both resilience and profit within the ever-evolving energy sector.
| Metric | Value |
|---|---|
| Market Cap | $127.6b |
| Total Debt | $18.4b |
| Total Cash | $6.0b |
| Shares Outstanding | 1.2b |
| Float Shares | 1.2b |
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