Why ConocoPhillips Rallied Double-Digits in January
Shares of oil and gas major (NYSE: COP) rallied 11.3% in January, according to data from S&P Global Market Intelligence.
Conoco didn't report fourth-quarter earnings until last week, on Feb. 5. Still, January was filled with news for the oil and gas industry generally, and for Conoco specifically, as two significant geopolitical events sent most oil and gas names higher.
The price of oil rallied from about $57 to $65 in January amid two potentially significant geopolitical events. First, on Jan. 2, U.S. special forces ousted Venezuelan President Nicolás Maduro, bringing him and his family to the U.S., where he will be brought up on narco-terrorism and other charges.
Source Fool.com
ConocoPhillips Stock
€106.88
2.370%
The stock is one of the favorites of our community with 76 Buy predictions and 1 Sell predictions.
On the other hand, the target price of 101 € is below the current price of 106.88 € for ConocoPhillips, so the potential is actually -5.5%.
