Why ConocoPhillips Stock Is Falling Today
Shares of (NYSE: COP) tumbled this morning and were trading 3.5% lower as of 11:30 a.m. ET on Wednesday.
With several of its peers on a buying spree in recent months, today's big announcement from ConocoPhillips shouldn't have surprised investors. The oil and gas company is acquiring a peer in a multibillion-dollar deal and expects the acquisition to create long-term value for shareholders.
ConocoPhillips will acquire Marathon Oil (NYSE: MRO) in an all-stock deal valued at $22.5 billion, including $5.4 billion of net debt. Marathon investors will receive 0.2550 shares of ConocoPhillips for each share they hold, representing a 14.7% premium to Marathon's closing price yesterday.
Source Fool.com
ConocoPhillips Aktie
99,50 €
-4,01 %
Die Aktie ist derzeit ein absoluter Favorit unserer Community mit 34 Buy-Einschätzungen und keiner einzigen Sell-Einschätzung.
Das von der Community festgelegte Kursziel für ConocoPhillips von 136 € impliziert eine deutliche Steigerung gegenüber dem aktuellen Kurs von 99.5 €.
