Key TakeawaysConocoPhillips and Marathon Oil received a second request for information from the Federal Trade Commission on Thursday.In May, ConocoPhillips announced a proposed $22.5 billion deal to acquire Marathon Oil.The companies say they still expect the deal to close in the fourth quarter. ConocoPhillips’ (COP) planned $22.5 billion acquisition of Marathon Oil (MRO) has again drawn questions from the Federal Trade Commission (FTC). The oil producer said Friday in a regulatory filing that both compani ...

The price of West Texas Intermediate (WTI) crude oil is trading at more than the $80 per barrel mark and is likely to remain strong this year. The U.S. Energy Information Administration (“EIA”) projects WTI oil to average $82.03 per barrel in 2024, a notable increase from last year's $77.58. EIA noted that ongoing reductions in global oil stockpiles are expected to continue pushing commodity prices upward.While crude prices stay favorable, the likelihood of the commodity reaching $100 per barrel, as seen in ...

Alaska’s largest oil company has filed a lawsuit against the Department of the Interior, asking a judge to toss out new rules imposed by the Biden administration that they say "thwart and prevent the production of petroleum" across millions of acres of an Alaskan reserve.  The recent filing from ConocoPhillips Alaska, Inc. in U.S. District Court comes months after the regulations surrounding the National Petroleum Reserve in Alaska (NPR-A) were set in place by the Bureau of Land Management (BLM). The federa ...

ConocoPhillips (NYSE:COP), a firm that operates within the oil and gas exploration and production (upstream) segment, may be on the verge of a turnaround. Although COP stock has had a rough five trading sessions, evolving 2024 election odds are starting to favor shares. More specifically, following the first presidential debate between President Joe Biden and former President Donald Trump, betting odds for a second Biden term plunged. One betting market shows that his odds of reelection briefly touched as l ...

zhengzaishuru Finding companies that can offer investors both solid capital gains and dividends is hard. While some high-growth businesses focus on maximizing shareholders' returns with buybacks and dividend increases, most faster-growing corporations invest more in core these companies' core operations. An industry that has consistently offered shareholders impressive income and total returns over the last three years is the energy sector. ConocoPhillips (NYSE:COP) is an industry leader in this field. ...

ConocoPhillips (COP) , the U.S. oil giant, has filed a lawsuit to challenge the Biden administration's recent ban on drilling across nearly half of the National Petroleum Reserve in Alaska (NPR-A), per a Bloomberg report. The lawsuit, filed on Friday, claims that the administration's measure violates a federal law that mandates oil development in the area.The Biden administration's new rule, enacted by the Interior Department, prohibits oil leasing on 10.6 million acres of the 23-million-acre reserve and im ...

Over the past three months, ConocoPhillips (COP) has experienced a 12.6% fall, underperforming the industry’s 3.9% decline.Recent investor concerns primarily stem from the premium ConocoPhillips is set to pay for acquiring Marathon Oil Corporation (MRO) and the expected increase in debt due to this transaction. Image Source: Zacks Investment ResearchMRO Deal Seems Expensive at First Glance: Cause for Concern?On May 29, ConocoPhillips finalized an agreement to acquire Marathon Oil in an all-stock deal valued ...

The market has recorded an impressive rally over the past year, consistently reaching new record highs week after week. Nevertheless, not all sectors have shared in this success. The energy sector, in particular, has lagged recently. When a sector underperforms relative to the overall market, it often presents attractive opportunities for investors. This is because high-quality companies within the underperforming sector often get sold off along with the rest of their peers, even though their underlying fin ...

In the latest market close, ConocoPhillips (COP) reached $114.38, with a +0.36% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.41% for the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.71%.Prior to today's trading, shares of the energy company had gained 0.34% over the past month. This has outpaced the Oils-Energy sector's loss of 1.17% and lagged the S&P 500's gain of 3.53% in that time.The investment community will be closely mo ...

In the latest trading session, ConocoPhillips (COP) closed at $113.61, marking a -1.2% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.49%.Coming into today, shares of the energy company had lost 3.34% in the past month. In that same time, the Oils-Energy sector lost 0.71%, while the S&P 500 gained 3.22%.The investment community will be closely monitoring the performance of Con ...