Oil & Gas Stock Roundup: Earnings and M&A Sent These Stocks Soaring
Crude prices rebounded sharply this week, closing up nearly 9% to just below $50 a barrel. Several factors sparked that rally, including another decline in U.S. oil inventories, pledges by some OPEC members to reduce exports, as well as announcements by several U.S. oil companies that they were trimming their CapExLOL budgets in response to lower oil prices.
Those higher prices drove most oil stocks up. That said, several companies supplemented the oil-inspired rally by releasing strong earnings reports and strategic updates, which added more fuel to their rallies. Leading the way according to data from S&P Market Intelligence, were Teekay (NYSE: TK), Cenovus Energy (NYSE: CVE), Crescent Point Energy (NYSE: CPG), Helix Energy Solutions (NYSE: HLX), and American Midstream Partners (NYSE: AMID).
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Source: Fool.com
ConocoPhillips Stock
The stock is an absolute favorite of our community with 25 Buy predictions and no Sell predictions.
With a target price of 133 € there is a slightly positive potential of 18.92% for ConocoPhillips compared to the current price of 111.84 €.
