This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ConocoPhillips Says No Good M&A Buys Yet Despite Oil Price Drop

4/21/15 10:22 AM EDT
ConocoPhillips (COP) CEO Ryan Lance says despite the big drop in oil prices, he still hasn't seen prices for acquisition targets come down. Lance said, 'we track a hundred companies or so that we’re interested in on a quarterly basis and I look at them and I haven’t seen anything that sort of meets our hurdle, or would satisfy any competitive issues with our own portfolio.' Lance, speaking at the opening session of CERA week in Houston, Texas, also said Conoco would ramp up production at its shale properties when the prices of oil moves into the 60s and 70s. Also speaking at the opening session of the CERA conference was Alaska Senator Lisa Murkowski who called for lifting the export ban on U.S. oil. Murkowski said, 'That we would remove sanctions on Iranian oil, while effectively still imposing domestic sanctions on American oil, to me there is a level of inconsistency that simply makes no sense.' TheStreet's Rhonda Schaffler reports from Houston.
Stocks in this video: COP
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV

Brokerage Partners

Top Rated Stocks Top Rated Funds Top Rated ETFs