Summary
- ConocoPhillips Co. is an American multinational specializing in oil and gas exploration and production; frequently dubbed an industry “giant”, it is praised for its dividend, balance sheet, and growth potential.
- Recently, however, ConocoPhillips announced revised 2015
guidance that indicated a twenty percent cut to its capital spending for the coming year, raising concerns about the health of the oil industry.
- Despite lowered project spending and a law suit implicating it in a spill, ConocoPhillips is a strong choice of stock, particularly given its innovative future project plans and forecasted growth.
- Analysts generally concur, rating the stock a 2.1 (buy) on a scale of 1.0 (strong buy) to 5.0 (strong sell).
- I Know First Research’s algorithm predicts a bullish forecast for ConocoPhillips in the 1-month and 3-month time frames.
Company Profile: ConocoPhillips Co.
ConocoPhillips Co. (NYSE:
COP) is an American multinational that most likely needs no introduction: head-quartered in
Houston, Texas, ConocoPhillips is nevertheless internationally renowned as the world's largest independent oil and gas exploration and production company, generating more than
$56.185 billion in revenue annually, according to the most recent data. As could almost be expected given its financial results, ConocoPhillips has also built a sizable relationship with investors; in assessing its utility and approachability as an investment, some analysts have compared ConocoPhillips to such global oil giants as ExxonMobil (NYSE:
XOM) and Chevron (NYSE:
CVX), citing ConocoPhillips's balance sheet, participation in the Dow Jones Industrial Average, dividend, growth potentially, and - almost matrimonially - "
reputation for quality, reliability, and profitability, in good times and in bad" as reasons that ConocoPhillips "
perfectly fits" their definition of a blue chip stock. Specifically, it is not simply the past and the present of ConocoPhillips that most analysts are intrigued by; rather, many observers call the company's upcoming projects innovative, labeling them business developments that will "move the needle into
future profitability" for ConocoPhillips.
