ConocoPhillips (NYSE: COP) explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company’s portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
- Market Cap: 115.041 billion
- PE Ratio: 6.54
- EPS: 14.44
- Dividend Yield: 2.44%
ConocoPhillips is an American energy company based in Houston, Texas, that focuses on oil and gas exploration and production (E&P)—the front-end of hydrocarbon production. It is the largest independent E&P company in the world.
This energy giant discovers new reserves of oil and gas around the world while also developing novel technologies to extract more energy from existing reserves. The rebound in oil demand has helped its stock performance and future prospects as it can now sell its production for more.
Warren Buffett first bought preferred stock in OXY in 2019, when the company was looking for financing for its purchase of Anadarko Petroleum. Since then, Berkshire has built a large stake in the company, and some say Buffett intends to acquire the entire firm outright. Occidental currently makes up almost 4% of Berkshire Hathaway’s holdings. Berkshire owns 26.6% of the company. Therefore, COP is a good stock to own for long term investors.