Why ConocoPhillips Stock Dropped on Friday
The Strait of Hormuz is open for business! That's good news for many investors, and the S&P 500 is up 1% as of 10:20 a.m. ET.
It doesn't seem to be very good news for ConocoPhillips (NYSE: COP) stock, however. Shares of the oil giant fell 6.6% as investors began pricing in the prospect of lower oil prices.
Image source: Getty Images.
Source Fool.com
ConocoPhillips Stock
€104.48
1.090%
With 84 Buy predictions and 1 Sell predictions ConocoPhillips is one of the favorites of our community.
As a result the target price of 108 € shows a slightly positive potential of 3.37% compared to the current price of 104.48 € for ConocoPhillips.
