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Petroleum industry

ConocoPhillips Shares Rise Amid Crude Price Hikes

Strategic Insights

— 1 min read

ConocoPhillips shares gained 0.95% to $48.81 in afternoon trading on Monday as rising crude prices lifted the oil sector. US drillers cut the number of rigs in use for the third straight week, leading to lower domestic production of shale. Analysts at Goldman Sachs forecasted a decline in US crude production this year by more than 250,000 barrels per day between the second and fourth quarters.

Key Takeaways:

  • Rising crude prices led to a 0.95% increase in ConocoPhillips shares to $48.81 in afternoon trading on Monday.
  • US drillers cut the number of rigs in use for the third straight week, resulting in lower domestic production of shale.
  • Analysts at Goldman Sachs predicted a decline in US crude production by more than 250,000 barrels per day between the second and fourth quarters.
  • ConocoPhillips has a debt-to-equity ratio of 0.51, which is low and below the industry average.
  • The company has a gross profit margin of 36.86%, which is considered strong.
  • The net profit margin of -2.15% trails the industry average, and the company's revenue decline of 40.0% over the past year has hurt its bottom line.
  • ConocoPhillips has experienced a steep decline in earnings per share over the past two years, with a decrease of 40.0% in the most recent quarter.
  • The company is expected to contract by 105.6% in earnings (-$0.26 versus $4.61) for the next year.

Statistics:

  • ConocoPhillips shares gained 0.95% to $48.81 in afternoon trading on Monday.
  • US drillers cut the number of rigs in use for the third straight week, leading to lower domestic production.
  • Goldman Sachs analysts predict a decline in US crude production by more than 250,000 barrels per day between the second and fourth quarters.
  • ConocoPhillips' debt-to-equity ratio is 0.51, which is low and below the industry average.
  • The company's gross profit margin is 36.86%, which is considered strong.
  • ConocoPhillips' net profit margin of -2.15% trails the industry average.
  • The company's revenue declined by 40.0% over the past year.
  • Earnings per share have declined over the past two years, with a 40.0% decrease in the most recent quarter.

Sources:

  • CNBC
  • TheStreet

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