What's Wrong With ConocoPhillips Stock Right Now?
The past year has not been kind to the shares of (NYSE: COP). The share price has fallen around 22% or so, which is twice the drop of the broader energy sector, using Energy Select SPDR ETF (NYSEMKT: XLE) as an industry proxy. That divergence might lead some investors to wonder what's wrong with ConocoPhillips right now. The answer is that the stock and business aren't the same thing.
ConocoPhillips is what is known as an independent energy producer. Essentially, all it does is drill for oil and natural gas. This means it operates in the upstream of the broader energy sector. Energy prices are highly volatile and often move very quickly because of geopolitical news and supply/demand changes. That can lead to swift swings in the sales and earnings of companies like ConocoPhillips.
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Source Fool.com
ConocoPhillips Stock
With 74 Buy predictions and 1 Sell predictions ConocoPhillips is one of the favorites of our community.
As a result the target price of 100 € shows a slightly positive potential of 9.85% compared to the current price of 91.03 € for ConocoPhillips.
