Major indices finish lower amid GE earnings disappointment >>> READ MORE

5 Energy Stocks to Power Your Portfolio

With earnings season upon us, these oil stocks are great best for future growth

      View All  


ConocoPhillipsLogoConocoPhillips’ (COP) transformation into a pure E&P player continues to work its magic for shareholders.

Performance at the former-integrated giant has been swift, and COP’s latest earnings report showcases the focus on shale, shale and more shale.

ConocoPhillips reported adjusted earnings of $1.47 per share, or a better-than-expected 39% jump in profit. Higher prices for crude oil and natural gas helped, but the real driver was higher production in the Eagle Ford and other “oily” shale regions in the U.S.

Best of all, investors should expect similar results from the new independent going forward.

Conoco has begun selling non-North American and risky assets in places like Kazakhstan, Algeria and Nigeria. Most recently, COP put its Libyan oil fields on the chopping block. Aside from the more than $9 billion these foreign assets should command, Conoco is setting itself up for future gains as the North American shale boom rolls on.

COP shares can be had for a song at a forward P/E of just under 12.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC