ConocoPhillips (COP) closed the most recent trading day at $112, moving -0.18% from the previous trading session. This change lagged the S&P 500's daily loss of 0.11%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.Coming into today, shares of the energy company had lost 9.07% in the past month. In that same time, the Oils-Energy sector lost 2.95%, while the S&P 500 gained 3.51%.The upcoming earnings release of ConocoPhillips will be of great interest to investors. The company's ...

Investors aiming for diversification can capitalize on the energy sector’s potential by adding oil stocks to their portfolios. In early June, the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to extend a voluntary production cut of 2.2 million barrels of crude oil a day into 2025. Despite the OPEC+ cuts and heightened Middle East tensions, global oil prices have declined nearly 10% since hitting a five-month high in early April. This was driven by record U.S. oil output and ...

In recent years, the Oil/Energy space has seen a remarkable wave of mergers and acquisitions driven by major players like ExxonMobil (XOM) , Chevron (CVX) , and ConocoPhillips (COP) . These deals are reshaping the industry landscape, with companies aiming to enhance their portfolios and gain competitive advantages amid market volatility and a shifting energy landscape.Key DealsThe consolidation trend gained significant momentum with several high-profile deals. In October, ExxonMobil announced its $60 billio ...

The price of West Texas Intermediate (WTI) crude oil is approaching the $80 per barrel mark and is likely to remain strong this year. The U.S. Energy Information Administration (“EIA”) projects WTI oil to average $83.05 per barrel in 2024, a notable increase from last year's $77.58. Contributing to the strength of commodity prices are voluntary production cuts from the OPEC+ group and ongoing geopolitical tensions.  While crude prices remain favorable, the likelihood of the commodity reaching $100 per barre ...

ConocoPhillips (COP) , the U.S. oil giant, has announced a definitive agreement to acquire Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. This strategic move is set to be immediately accretive to ConocoPhillips’ earnings, cash flows and return of capital per share.Key Details of the AcquisitionPer the terms of the deal, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil co ...

The oil industry's merger wave continues.A consolidation wave continues to wash over the oil patch. ExxonMobil kicked off the current boom in mergers and acquisitions last year with its recently closed $60 billion deal for Pioneer Natural Resources. Rival Chevron followed with its acquisition of Hess, which it hopes to close in the coming months. The sector has seen several smaller transactions as oil companies pair up to enhance their positions and reduce costs. The latest industry tie-up will see ConocoPh ...

A view of a Marathon gas station in Baltimore, Maryland on May 29, 2024. US energy giant ... [+] ConocoPhillips announced on May 29 that it will acquire competitor Marathon Oil in an all-stock transaction valued at $22.5 billion, including $5.4 billion in debt, a major expansion despite pressure to move away from fossil fuels. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)AFP via Getty ImagesConocoPhillips ConocoPhillips announced plans to acquire Marathon Oil Marathon Oil Corporatio ...

Here's why the oil and gas company is a buy after today's price drop.Shares of ConocoPhillips (COP -3.94%) tumbled this morning and were trading 3.5% lower as of 11:30 a.m. ET on Wednesday.With several of its peers on a buying spree in recent months, today's big announcement from ConocoPhillips shouldn't have surprised investors. The oil and gas company is acquiring a peer in a multibillion-dollar deal and expects the acquisition to create long-term value for shareholders.ConocoPhillips will acquire Maratho ...

ConocoPhillips Chairman & CEO Ryan Lance speaks during the CERAWeek oil summit in Houston, Texas, on ... [+] March 19, 2024. (Photo by Mark Felix / AFP) (Photo by MARK FELIX/AFP via Getty Images)AFP via Getty ImagesSome of us are old enough to remember when Conoco, Phillips Petroleum, and Marathon were three separate companies, all of which were fully integrated majors. Conoco and Phillips, both originally based in Oklahoma, merged in 2002 to become ConocoPhillips.Ten years later, in 2012, ConocoPhillips sp ...

Another big M&A announcement in the oil patch is making news after ConocoPhillips (COP) said it will buy Marathon Oil (MRO) for $17.1 billion in stock. The deal includes $5.4 billion in debt, bringing the enterprise value of the transaction to approximately $22.5 billion. The purchase price represents a roughly 15% premium to Marathon stock's May 28 close at $26.45, sending its share price up by more than 9% Wednesday. COP stock, meanwhile, is down about 3%.Under the agreement, Marathon shareholders will re ...