Why ConocoPhillips Stock Got Mashed on Monday
All things being equal, when crude oil prices rise, the fortunes of energy exploration and production (E) companies increase (as do their share prices). When said prices decline, the opposite is often true. This was the key dynamic behind upstream oil company ' (NYSE: COP) nearly 4% drop on Monday.
As with crude prices generally of late, the most recent gyrations were mostly due to the Iran war. Both sides pulled back from direct military action, with President Trump stating that his administration was "giving talks some space," implying some level of diplomatic discussion between the two sides.
Image source: Getty Images.
Source Fool.com
ConocoPhillips Stock
€104.48
1.090%
The stock is one of the favorites of our community with 84 Buy predictions and 1 Sell predictions.
With a target price of 108 € there is a slightly positive potential of 3.37% for ConocoPhillips compared to the current price of 104.48 €.
