ConocoPhillips' (COP) sale of its 40% stake in Russian JV NaryanMarNefteGaz to Lukoil makes...

|About: ConocoPhillips (COP)|By:, SA News Editor

ConocoPhillips' (COP) sale of its 40% stake in Russian JV NaryanMarNefteGaz to Lukoil makes strategic sense since it was not part of core operations, Barclays says, but the firm believes upside for COP shares is limited until management does a better job convincing the market it can fund its dividend and capex program in a more mediocre oil price environment.