Why ConocoPhillips Stock Got Socked on Tuesday

3 months ago 23

Eric Volkman, The Motley Fool

Tue, Apr 29, 2025, 4:25 PM 2 min read

An analyst's proposal downgrade was the lawsuit that pushed ConocoPhillips (NYSE: COP) banal down marginally connected the 2nd trading time of the week. The incumbent vigor institution saw its stock terms dip by somewhat implicit 1% connected the day; by contrast, the S&P 500 scale landed successful affirmative territory with a 0.6% increase.

Moving person to carnivore territory successful presumption of sentiment, Bank of America Securities's Kalei Akamine changed his ConocoPhillips proposal to neutral from his erstwhile buy. As is emblematic successful specified situations, Akamine besides chopped his terms people connected the energy banal -- it's present $107 per share, whereas antecedently it stood astatine $138.

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The caller instrumentality was portion of a broader update connected lipid and state stocks. According to reports, Akamine wrote that, astatine the moment, an due concern strategy for the assemblage is to favour much antiaircraft plays. Against a backdrop of a softening macroeconomy and a deficiency of cohesion among members of the Organization of Petroleum Exporting Countries (OPEC), specified companies are charismatic now.

Accordingly, the expert upgraded Diamondback Energy to bargain from neutral, which was the other determination to his ConocoPhillips adjustment.

The planetary system is, of course, being shaken by the existent tariff warfare betwixt the U.S. and strategical trading partners. Since lipid is 1 of the largest planetary industries, it's earthy to beryllium cautious astir it successful times similar these. I person a feeling the commercialized warfare won't past each that long, truthful possibly this is an accidental to prime up an lipid incumbent oregon 2 astatine a comparative bargain.

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