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ConocoPhillips (COP) is in the process of divesting $9.6B in assets this year, and Oppenheimer's...

ConocoPhillips (COP) is in the process of divesting $9.6B in assets this year, and Oppenheimer's Fadel Gheit expects it to successfully apply proceeds to help fund new projects and increased production. In raising his target price on COP to $70 from $65, Gheit says the strategy, coupled with a high dividend yield, could lead to 20% multiple expansion and boost the stock.
Comments (9)
  • Just hoping this dips to 55$ to add more... by this time next year COP should be firing on all cylinders after the asset sales are done.
    8 Feb 2013, 03:02 PM Reply Like
  • Not saying it will happen, but if crude prices decline we could see more vol on COP/majors. They have all followed the price of crude up.
    8 Feb 2013, 03:14 PM Reply Like
  • Yep. It looks cheap even on a bubbly day like today, although I wish I had bought at 55 last november.
    8 Feb 2013, 03:21 PM Reply Like
  • I love Fadel Gheit.


    (I loved him even before this highly enlightened boost in COP's target price.)
    8 Feb 2013, 03:09 PM Reply Like
  • COP with 3x normal volume today but little movement really. Surely Gheit's upgrade isn't the only reason for the excess volume.. What do y'all think? Long COP
    8 Feb 2013, 05:03 PM Reply Like
  • I believe the recent efforts to become more efficient will pay off. I'll buy more "if" it dips to $55!
    9 Feb 2013, 12:29 AM Reply Like
  • I guess the dividend editor at S.A. is on's another dividend declaration that never made it to the website: COP $0.66 / share declared 2/6, ex 2/14, pays 3/1. Yield 4.56% which ain't too shabby.
    9 Feb 2013, 10:39 AM Reply Like
    9 Feb 2013, 10:59 AM Reply Like
  • cop is now ready to dollar cost on market weakness.
    it has huge potential for future earnings and pays for you to wait.
    ive traded it at 58 and sold at came back down again and im
    buying more.
    10 Feb 2013, 04:20 AM Reply Like
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