ConocoPhillips

COP

Market cap $110B

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.

ConocoPhillips (COP) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

ConocoPhillips (COP) closed the most recent trading day at $93.75, moving 1.55% from the previous trading session.

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 prices, ConocoPhillips has announced it will lay off up to 25%.

Stocks that could face selling pressure at the end of 2025 could be worth a look for long-term investors.