Research Report: ConocoPhillips (COP)
With analyst EPS estimates surging up to 90% in 30 days while the stock pulls back 10% from highs, the world's largest independent E&P trades at $122 against a $145 base-case target
Executive Summary
ConocoPhillips is the world’s largest independent E&P company at 2,375 MBOED of production, with an A-rated balance sheet, $20B/yr in operating cash flow, and a completely unhedged commodity position. The stock trades at ~$122 after pulling back 10% from its March 30 high of $135.87, primarily due to the April 8 ceasefire announcement d…
