ConocoPhillips Co. (COP) is an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States. It is the world's largest independent pure-play exploration and production company and is a Fortune 500 company. ConocoPhillips was created through the merger of American oil companies Conoco Inc. and Phillips Petroleum Co. on August 30, 2002. In 2012, ConocoPhillips' spun off its downstream assets as a new, and separate company, Phillips 66.
Reported before open today (4/28/16) Earnings: EPS -$0.95 Revenue $5.015B Estimates: EPS -$1.07 Revenue $5.568B
Analyst Upgrade/Downgrade Update Brokerage firm: Edward Jones Change: Upgrade Previous Rating: Hold Current Rating: Buy Previous Price Target: N/A Current Price Target: N/A
Analyst Upgrade/Downgrade Update Brokerage firm: CLSA Change: Downgrade Previous Rating: Outperform Current Rating: Underperform Previous Price Target: N/A Current Price Target: N/A
Shares of ConocoPhillips soar after $13.3 billion deal ConocoPhillips shares soared Thursday after the energy giant said it will sell its oil sands and natural gas holdings in Canada to Cenovus Energy. The stock was up more than 6 percent Thursday morning. Cenovus share price was down more than 11 percent. ConocoPhillips will sell its position in the Foster Creek Christina Lake oil sands partnership and most of its western Canada Deep Basin gas assets, for $10.6 billion in cash. ConocoPhillips will also receive $2.7 billion in shares of Canada-based Cenovus. "This is a significant, win-win opportunity for ConocoPhillips and Cenovus," ConocoPhillip - CNBC
I opened up a long position using some calls that were Deep-In-The-Money. Looking good so far. I think it has potential to run to $56 but potentially $67 if I am being optimistic. The market is a fickle beast tho so you never know.
