Comment on A Closer Look At ConocoPhillips' Key Business Drivers

A Closer Look At ConocoPhillips' Key Business Drivers

Based on the second quarter earnings announcement, we revised our price estimate for ConocoPhillips to $85/share, which is around 12.8x our 2014 full-year adjusted diluted EPS estimate for the company. The valuation of an independent oil and gas company largely depends on a few key business drivers such as hydrocarbon production, proved reserves, cash operating margins, and capital expenditures.

 

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