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ConocoPhillips COP

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

ConocoPhillips to Increase Repurchases With Sale of Cenovus Stake, Starts Gross Debt Reduction Plan

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

ConocoPhillips reported adjusted earnings of $0.9 billion for the first quarter compared with adjusted earnings of $0.5 billion the year before as production volumes rose more than 18% year on year and price realizations increased to $45 per barrel from $39 the year before. We plan to incorporate first-quarter results into our model but do not anticipate a change to our fair value estimate or moat rating.

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Company Profile

Business Description

ConocoPhillips is a U.S.-based independent exploration and production firm. At the end of 2020, it produced 727,000 barrels per day of oil and natural gas liquids and 2.4 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2020 were 4.5 billion barrels of oil equivalent.

Contact
925 North Eldridge Parkway
Houston, TX, 77079
T +1 281 293-1000
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2020
Stock Type Distressed
Employees 10,300

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