ConocoPhillips Shares Plummet Amid Falling Crude Prices

Strategic Insights -

ConocoPhillips shares have taken a hit this week, closing trading down 2.21% at $47.36 on Friday as crude prices tumbled. The oil sector has been under pressure due to falling crude prices, with industry standard Brent crude for October delivery down 1.55% to $48.13 per barrel, and West Texas crude for October delivery down 2.48% to $44.78 per barrel. The downturn in oil prices is causing oil explorers to pull back on production, with oil services company Baker Hughes reporting that drillers removed 10 rigs this week.

Key Takeaways:

  • ConocoPhillips shares have declined 2.21% to $47.36 this week due to falling crude prices.
  • Industry standard Brent crude for October delivery is down 1.55% to $48.13 per barrel, while West Texas crude for October delivery is down 2.48% to $44.78 per barrel.
  • Oil services company Baker Hughes has reported that drillers removed 10 rigs this week in response to declining oil prices.
  • ConocoPhillips' TheStreet Ratings score is C, indicating a Hold rating with mixed factors impacting performance.
  • The company's strengths include a largely solid financial position with reasonable debt levels and expanding profit margins.
  • However, weaknesses include a generally disappointing performance in the stock itself, feeble growth in earnings per share, and deteriorating net income.

Statistics:

  • ConocoPhillips shares have declined 2.21% to $47.36 this week.
  • Industry standard Brent crude for October delivery is down 1.55% to $48.13 per barrel.
  • West Texas crude for October delivery is down 2.48% to $44.78 per barrel.
  • Baker Hughes has reported that 10 rigs were removed this week.
  • ConocoPhillips' debt-to-equity ratio is low at 0.51.
  • The company's quick ratio is adequate at 1.03.
  • ConocoPhillips' gross profit margin is 36.86%.
  • Net profit margin has decreased to -2.15%.
  • Revenues have fallen by 40.0% over the same quarter last year.

Sources:

  • TheStreet
  • ConocoPhillips
  • Baker Hughes
  • CNBC
  • TheStreet Ratings Report (http://secure2.thestreet.com/cap/prm.do?OID=023499&ticker=COP)