Why ConocoPhillips Stock Dropped Again Monday
Oil prices crashed again Monday morning, with Brent crude futures falling 5.6% and WTI down 5.9% through 10:40 a.m. ET.
As you'd expect, oil stocks are following oil prices lower, with ConocoPhillips (NYSE: COP) stock down 3.9% -- but here's the thing: A 3.9% drop in Conoco stock is a lot less than a 5.9% drop in Brent prices, for example.
So why isn't Conoco stock down even more?
Source Fool.com
ConocoPhillips Stock
€99.47
0.850%
The stock is one of the favorites of our community with 85 Buy predictions and 1 Sell predictions.
With a target price of 105 € there is a slightly positive potential of 5.56% for ConocoPhillips compared to the current price of 99.47 €.
