Why 2017 Was a Year to Remember for ConocoPhillips
This year has been a transformational one for ConocoPhillips (NYSE: COP). The company strengthened its portfolio so that it can break even at an oil price of just $40 a barrel. It did so by selling low-margin non-core assets and then used the cash proceeds to shore up its balance sheet and return some of the excess to investors.
The market is beginning to take notice of these improvements, evidenced by the fact that the stock has vastly outperformed its peers over the past year. From its analyst and investor meeting in November 2016 to this year's conference earlier in the month, the stock had delivered a total return of more than 14% while most energy stocks declined in value.
Here's a look back at what ConocoPhillips did this year to fuel that outperformance in what has largely been another down year for the oil patch.
Source: Fool.com
ConocoPhillips Stock
With 35 Buy predictions and not a single Sell prediction ConocoPhillips is an absolute favorite of our community.
As a result the target price of 135 € shows a positive potential of 38.29% compared to the current price of 97.62 € for ConocoPhillips.
