Why ExxonMobil, Chevron, and ConocoPhillips Stocks All Just Dropped
It's looking like a kind of good news, bad news day for investors in oil stocks on Monday.
On the good news side of the board, two big Wall Street banks -- Truist and Piper Sandler -- just raised their price targets on three of the nation's biggest oil companies: ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), and (NYSE: COP). At the same time, however, there's bad news on oil demand coming out of Saudi Arabia -- and that seems to be overwhelming the good news, driving down oil prices and oil stock prices, too.
As of 11:15 a.m. ET, ExxonMobil stock was down 2.8% from Friday's close, ConocoPhillips shares were off 2.6%, and Chevron had shed 1.7%.
Source Fool.com
ConocoPhillips Stock
€114.00
-2.530%
The stock is an absolute favorite of our community with 24 Buy predictions and no Sell predictions.
With a target price of 133 € there is a slightly positive potential of 16.67% for ConocoPhillips compared to the current price of 114.0 €.
