ConocoPhillips ($COP) Stock Forecast: Down 0.0% Today

What is ConocoPhillips?

ConocoPhillips (COP) operates in the energy sector, focusing on oil and natural gas exploration and production. The stock recently saw a notable downturn amidst market volatility.

Why is ConocoPhillips going down?

COP stock is down 0.0% on May 15, 2024 15:11

• The bearish movement in ConocoPhillips (COP) is possibly linked to negative sentiments in the energy sector arising from geopolitical tensions and worries about potential disruptions in global supply chains.
• Despite the general benefit of rising oil prices for energy companies, there are concerns that such increases could result in higher operational costs for firms like COP, impacting their profit margins.
• Warren Buffet's revelation about divesting investments, including those in energy-related firms, might have contributed to the market's pessimism and influenced COP's downward trajectory.
• The G7 countries' resolution to phase out coal-powered facilities and transition to carbon-neutral alternatives could have sparked worries about the future prospects of traditional energy firms like COP, consequently impacting the stock's bearish trend.

COP Price Chart

COP News

Wall Street Favorites: 3 Energy Stocks With Strong Buy Ratings for May 2024

As oil prices rise, it’s worth looking at the top energy stocks to buy in May. The energy sector, typically known for its volatility, was off to a strong start this year. This robust demand comes after a lackluster 2023 as global economic concerns drove prices down. Since then, sentiments towards economic performance have changed for the better with the U.S. economy’s resilience in the face of geopolitical turmoil.  Energy stocks typically perform in tandem with the economy. As a result, the positive economic outlook we’ve seen this year has led to a rise in demand for fuel. Adding to this, the Fed’s decision to keep interest rates the same, as inflation levels stabilize, has further cemented investor confidence in the markets. The strong performance of energy companies bodes well for income investors seeking a high dividend payout.

https://investorplace.com/2024/05/energy-stocks-to-buy-in-may/

Warren Buffet’s Blunders: 3 Investments Even the Oracle Regrets

Warren Buffett might be the greatest investor of all time, but he’s not immune from making mistakes. This was on full display at the recent Berkshire Hathaway (NYSE:BRK-A, NYSE:BRK-B) annual meeting, where Buffett disclosed that he had sold the company’s entire stake in Paramount Global (NASDAQ:PARA) at a substantial loss. Although the exact loss wasn’t disclosed, Buffett said: “I was 100% responsible for the Paramount decision. It was 100% my decision, and we’ve sold it all and we lost quite a bit of money.” The Paramount blunder is the latest bad investment that Buffett has made in the course of a career that spans more than 50 years. What’s nice about Buffett is that he is quick to admit a mistake, correct it, and share what he has learned. Despite his overall track record of success, Buffett is human like the rest of us and prone to bad decisions when it comes to stocks. Here is Warren Buffet’s blunders: three investments even the Oracle regrets.

https://investorplace.com/2024/05/warren-buffets-blunders-3-investments-even-the-oracle-regrets/

3 Cheap Energy Stocks to Buy Now: May 2024

Some cheap energy stocks for investors to consider buying in May this year. Framing this article is that the G7 countries have agreed to phase out unabated coal power plants by 2035, with some flexibility for nations heavily reliant on coal. This marks a significant milestone in the global effort to reduce greenhouse gas emissions and limit global warming. The decision comes as the U.S. Environmental Protection Agency has set new rules requiring coal-fired power plants to either capture nearly all of their climate pollution or shut down before 2040. In the U.K., coal-fired power is set to end this year with the Ratcliffe-on-Soar plant’s closure in September. As the deadline draws near — which is less than a decade for most of them — we will see an accelerated shift toward carbon-free alternatives and more mediating alternatives such as natural gas. The good news is that many cheap energy stocks are available for investors. Here are some of the best.

https://investorplace.com/2024/05/3-cheap-energy-stocks-to-buy-now-may-2024/

Energy’s Geopolitical Jackpot: 7 Stocks to Ride the Tightening Screws

With news that the Russians opened another front in its belligerence against Ukraine, it’s clear that energy stocks to buy need to rise to the forefront. Geopolitically, the narrative is only becoming more intense, with fears rising that global supply chains could be disrupted. It’s not a far-fetched concept. Before Congress approved an import ban on Russian-sourced uranium, concerns existed that the Kremlin could choose to cut supplies of the critical energy resource to the U.S. and Western nations. With tensions escalating, anything can happen. Plus, it’s not just Europe that has raised alarm. The situation in the Middle East is fluid and could also erupt in chaos. That could easily disrupt crucial global oil supply chains, which could significantly impact the economy. About the only cynical winners is the energy space. With that, below are energy stocks to buy.

https://investorplace.com/2024/05/energys-geopolitical-jackpot-7-stocks-to-ride-the-tightening-screws/

Seasonal Superstars: 3 Stocks That Thrive Amid Market Lulls

During the summer, seasonal stock picks are more challenging as the market tends to experience a temporary slowdown. However, certain industries and seasonal stock picks can still thrive amid these market lulls. Yet, recent stock market wobbles suggest that Wall Street’s summer plans are in jeopardy; investors were expecting rate cuts and easy profits, but stubborn inflation has dashed those hopes as the Fed has signaled that interest rate cuts are unlikely in the near future.  Despite casting doubt on summer strategies, investors now must be more discerning in choosing seasonal stock picks. Although the S&P 500 has historically grown from May to October, it has only increased by 2% compared to 7% from November to April. As such, investors may consider airline, energy and consumer goods as seasonal stock picks this summer. Airline stocks typically see an uptick in business during the summer regardless of interest rates or inflation. In addition to increased travel, energy usage also improves, though as temperatures rise, energy companies operating in harsh environments may benefit most. Finally, consumer goods offer stability during market uncertainty and act more like defensive plays during market lulls.

https://investorplace.com/2024/05/three-stocks-that-thrive-amid-market-lulls/

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ConocoPhillips Price History

09.09.2023 - COP Stock was up 5.1%

• COP's stock price reacted positively to reports of Exxon Mobil nearing the completion of a $60 billion acquisition, which sent shares of the target company, Pioneer Natural Resources, higher. This news likely boosted investor confidence in the energy sector, including COP.
• Additionally, COP received regulatory approval for its venture at the Tommeliten A gas field in the North Sea, which is expected to recover 150 million barrels of oil equivalent. This positive development further contributed to the bullish movement of COP's stock.
• Furthermore, COP completed the acquisition of Surmont Oil Sands, which strengthens its focus on delivering returns and generating substantial free cash flow. This acquisition may have also contributed to the positive sentiment surrounding COP today.
• Overall, the combination of positive news related to acquisitions and regulatory approvals likely fueled the bullish movement of COP's stock.

16.10.2023 - COP Stock was down 2.5%

• The bearish movement in ConocoPhillips' stock today may be attributed to the following factors:
• 1. Insider Selling: The large insider sell by director Timothy Leach, as reported in multiple articles, could have signaled a lack of confidence in the company's future prospects, leading to a negative sentiment among investors.
• 2. Decreased Stake by Financial Institutions: Articles mention Essex Financial Services Inc. and Synovus Financial Corp reducing their positions in ConocoPhillips. This reduction in holdings by financial institutions could have contributed to the downward pressure on the stock.
• 3. Legal Battle Victory: While not directly related to the bearish movement, the legal victory in the Willow Oil Project could have been overshadowed by other factors, leading to a lack of positive impact on the stock price.
• Overall, the combination of insider selling, decreased stake by financial institutions, and potentially overshadowed positive news may have influenced the bearish movement in ConocoPhillips' stock today.

15.04.2024 - COP Stock was down 0.0%

• The bearish movement in ConocoPhillips (COP) is possibly linked to negative sentiments in the energy sector arising from geopolitical tensions and worries about potential disruptions in global supply chains.
• Despite the general benefit of rising oil prices for energy companies, there are concerns that such increases could result in higher operational costs for firms like COP, impacting their profit margins.
• Warren Buffet's revelation about divesting investments, including those in energy-related firms, might have contributed to the market's pessimism and influenced COP's downward trajectory.
• The G7 countries' resolution to phase out coal-powered facilities and transition to carbon-neutral alternatives could have sparked worries about the future prospects of traditional energy firms like COP, consequently impacting the stock's bearish trend.

06.06.2023 - COP Stock was down 2.5%

• The bearish movement in ConocoPhillips (COP) today can be attributed to a combination of factors:
• 1. Disappointing Q1 performance: Smead Capital Management's first-quarter investor letter highlighted a -0.02% return for their Smead Value Fund, underperforming the S&P 500 and Russell 1000 Value Index. This could have negatively impacted investor sentiment towards ConocoPhillips.
• 2. Oil price concerns: The article mentions that oil prices have failed to reach the predicted $100 per barrel mark, with prices remaining around $70 per barrel. Factors such as the likelihood of a global recession, disappointing Chinese reopening, increased oil supply from Russia, and the US's plans to boost its own oil production have contributed to this. Lower oil prices can have a direct impact on ConocoPhillips' profitability.
• 3. Regulatory fine: ConocoPhillips was accused by the Alaska Oil and Gas Conservation Commission of violating state law regulations, resulting in a gas leak. The company has been fined $914,000 for this violation. Such incidents can damage a company's reputation and investor confidence.
• 4. Market performance: Although ConocoPhillips outpaced the stock market gains in the previous trading session, the overall bearish movement today suggests that the positive momentum was not sustained.
• Overall, the combination of underperformance, oil price concerns, regulatory issues, and market dynamics likely contributed to the bearish movement in ConocoPhillips (COP) today.