ConocoPhillips Stock News

The past year has not been kind to the shares of ConocoPhillips (COP -1.08%). The share price has fallen around 22% or so, which is twice the drop of the broader energy sector, using Energy Select SPDR ETF (XLE -1.21%) as an industry proxy.

Oil prices fell below $60 per barrel recently due to a combination of oversupply and weak demand.

The S&P 500 index, a popular benchmark used to measure U.S. large-cap stocks, has risen 12.7% over the last year through Oct. 10.

ConocoPhillips (NYSE:COP, ETR:YCP) may not have the flashiest story in the oil patch, but RBC thinks the steady hand is paying off. Ahead of third-quarter results, the broker keeps its “outperform” rating and lifts its price target to $118 from $113, citing consistent free cash flow, strong shareholder returns, and a resilient balance sheet.

ConocoPhillips' (COP -4.49%) stock is down around 15% over the past year, but don't count this independent energy producer out. Once you understand the business you might actually view today's laggard stock performance as an opportunity to buy.

Oil prices have been on a downward spiral this year. WTI, the primary U.S. oil price benchmark, has fallen over 13% through the end of the third quarter, putting it down near $60 a barrel.

ConocoPhillips, a $118 billion market cap company, is integrating its acquisition of Marathon Oil Corporation. This has included sales of non-core assets in Oklahoma and the offshore Gulf. The surprisingly low-beta company pays a 3.3% dividend and has a large share repurchase program. Similar to some peers, as part of its post-acquisition restructuring and also due to pressure from lower oil pr...