
NYSE:COP
This summary was created by AI, based on 3 opinions in the last 12 months.
The reviews on ConocoPhillips (COP) reflect a range of sentiments regarding its future prospects. One expert notes that while oil prices may remain high due to geopolitical tensions, COP does not stand out among its peers and would not be a recommended buy. Another points to the recent dip in oil company valuations following highs earlier in the year, highlighting the pessimism surrounding the energy sector as markets adjust to new conditions after conflicts. Despite acknowledging that oil plays a critical role in the economy and can contribute to inflation, the same expert suggests avoiding any energy investments until market stability is achieved. However, a third expert expresses a positive view on COP, suggesting that it is a favorable contender in the sector despite the broader downturn. Overall, there is a divide in opinions, with caution emphasized in the current energy landscape.
2016 was the year management would like to forget. They were caught with their pants down when oil prices collapsed in Jan/Feb 2016, to the point where they had to cut their dividend. They went back to the drawing board. Had an analyst’s day at the end of 2016, where they said they were going to sell $5-$8 billion of assets in 2017. They sold over $13 billion of assets already, and have used that to repair the balance sheet. They’re buying back stock. Thinks they are positioning the company in a position of strength in an environment in the energy sector, which is going to continue to be volatile. Dividend yield of 2.1%. (Analysts’ price target is $53.)