2024-04-11 08:00:00 ET
Summary
- ConocoPhillips stock has risen over 30% since mid-last year, but recent momentum loss raises questions about future performance.
- Near-term growth may be limited as projects gain momentum and shareholder returns are downsized.
- Analysts rate the stock as a hold, with price targets ranging from $118 to $173.
- We agree with the analysts in spite of liking the company long term, and rate ConocoPhillips a hold at present prices.
Introduction
ConocoPhillips ( COP ) has been a solid pick, rising over 30% from our $100.00 entry point in the middle of last year. Much of that time has been spent regaining ground that the stock of COP attained shortly after we went long. We decided to stick around for the ride once the price reversion began.
The last month has been like a SpaceX rocket launch, culminating in the last few days in a loss of momentum as the stock of ConocoPhillips entered LEO, or Low Earth Orbit. The question before us. Do we eventually de-orbit and return to Earth? Or continue on to the Moon or Mars?...
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ConocoPhillips: Achieving Low Earth Orbit