Why These 3 Oil Drillers Are Outperforming Their Competition
Ouch! The stock market has pulverized most oil-industry stocks this year, sending shares of many independent oil and gas exploration and production companies -- E&Ps for short -- down more than 25% so far this year. But three E&Ps have bucked this trend, and they may not be the ones you're expecting.
ConocoPhillips (NYSE: COP), the biggest of the bunch, is down just 1% for the year, while the second biggest U.S. E&P, EOG Resources (NYSE: EOG) is down just 4%. This clearly goes beyond size, though, because Concho Resources (NYSE: CXO), which is only about one-third the size of EOG, is up 1.3% for the year.
Here's what these companies did to keep their shares so steady, and how it will affect them and their competitors.
Source: Fool.com
ConocoPhillips Stock
€103.90
0.120%
The stock is an absolute favorite of our community with 34 Buy predictions and no Sell predictions.
With a target price of 136 € there is a positive potential of 30.9% for ConocoPhillips compared to the current price of 103.9 €.
