Why ConocoPhillips Rallied on Monday
Shares of U.S. oil and gas major (NYSE: COP) rallied as much as 6.5% on Monday, before settling into a 3.2% gain as of 12:42 p.m. EDT.
Conoco, along with other U.S.-based oil and gas producers, oil services companies, and refiners, rallied today in response to the U.S. ousting Venezuelan President Nicolás Maduro last Friday night.
This past weekend's events could open up Venezuela's vast oil and gas reserves to U.S. companies. Moreover, ConocoPhillips, in particular, is owed billions by Venezuela, which seized the company's assets back in 2007.
Source Fool.com
ConocoPhillips Aktie
84,74 €
5,58 %
Einseitige Meinung: ConocoPhillips erhält nur Buy-Einschätzungen und keine Sell-Einschätzungen.
Für ConocoPhillips ergibt sich ein leicht positives Potenzial, angesichts eines Kursziels von 101 € im Vergleich zu 84.74 €.
