1 Oil Stock Built for Today's Volatile Oil Market
ConocoPhillips (NYSE: COP) has one main goal: to thrive in almost any oil market environment. The company positioned itself to achieve this ambitious goal by transforming its business over the last three years. The moves it made to reduce costs and bolster its balance sheet now have it in a position to succeed at a range of oil prices, which was the primary takeaway from the company's fourth-quarter conference call.
ConocoPhillips CEO Ryan Lance led off the call by stating:
It's certainly early in the new year and this sector is already off to another volatile start. Volatility can certainly be tough on an industry or a company if you're not built for it. Well, we're built for it, with clear resilience to lower prices, full upside to higher prices, and a shareholder-friendly framework that works through the cycles...Our main goal is to reinforce why ConocoPhillips offers an attractive way to invest in this cyclical business. That's the key theme as we reflect on 2019 and we look forward to the future.
Source Fool.com
