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SKU: COP Category:


ConocoPhillips had one of its best quarters in recent times as the company produced an all-around beat with nearly double the profitability on a sequential quarter-on-quarter basis. The company has nearly tripled its output to about 1.547 million barrels of oil equivalent (boe) per day during Q2, up from 566,000 boe per day from the corresponding quarter of 2020. There has been a strong recovery in fuel demand as compared to the pandemic-forced slump in 2020 and also, a sharp recovery in crude oil prices. The increased output from the company has indeed come at an excellent time and it realized $50.03 during the previous quarter. The company’s acquisition of Concho Resources and its resumption of oil production from wells that were shut during the pandemic is the reason for the surge in output and its cash flows are to be returned to shareholders. The company expects to maintain the 1.5 million boe per day output for the rest of the year and the crude oil price outlook is also positive prompting us to give the stock a ‘Buy’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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