ConocoPhillips (COP) Is Set To Soar
ConocoPhillips (NYSE:COP) shares soared nearly 23% in the last three months alone, supported by higher crude oil prices and the company’s cost-cutting strategies. COP is the largest independent exploration and production company. It had experienced a massive decline in its sales and earnings in the last two years, amid a cyclical downturn in energy markets and commodity prices.
On the other hand, during the period of lower oil prices, ConocoPhillips took several key initiatives to adjust its business model with the lower pricing environment. The company slashed its dividends by more than 60% and declined its capital investments to support cash flows.
In addition, the company also lowered its production and
ConocoPhillips (NYSE:COP) shares soared nearly 23% in the last three months alone, supported by higher crude oil prices and the company’s cost-cutting strategies. COP is the largest independent exploration and production company. It had experienced a massive decline in its sales and earnings in the last two years, amid a cyclical downturn in energy markets and commodity prices.
On the other hand, during the period of lower oil prices, ConocoPhillips took several key initiatives to adjust its business model with the lower pricing environment. The company slashed its dividends by more than 60% and declined its capital investments to support cash flows.
In addition, the company also lowered its production and