Why ConocoPhillips Stock Dropped Again Monday
Oil prices crashed again Monday morning, with Brent crude futures falling 5.6% and WTI down 5.9% through 10:40 a.m. ET.
As you'd expect, oil stocks are following oil prices lower, with ConocoPhillips (NYSE: COP) stock down 3.9% -- but here's the thing: A 3.9% drop in Conoco stock is a lot less than a 5.9% drop in Brent prices, for example.
So why isn't Conoco stock down even more?
Source Fool.com
ConocoPhillips Stock
€115.52
0.380%
With 87 Buy predictions and 1 Sell predictions ConocoPhillips is one of the favorites of our community.
As a result the target price of 123 € shows a slightly positive potential of 6.48% compared to the current price of 115.52 € for ConocoPhillips.
