$COP

Wall Street held near record highs on Tuesday, with the S&P 500 0.4% below its all-time high. Brent oil fell 0.7% to $99.68 per barrel, easing pressure on stocks. AutoZone and Thor Industries reported stronger-than-expected profits, while On Holding's stock surged 12.4% after announcing financial goals and a stock buyback plan. Oil and gas stocks, like ConocoPhillips, and banks, such as JPMorgan Chase, declined.

ConocoPhillips is acquiring a $19.8 million offshore stake from a junior partner that defaulted on drilling obligations. This increases ConocoPhillips' stake to 71%.

On September 17, Brent crude oil was around $103/barrel, WTI near $100. Chevron (CVX) reported Q2 earnings of $12.1B, with 20% year-over-year production growth. Chevron, Exxon (XOM), and ConocoPhillips (COP) are highlighted as strong energy sector investments due to their financial strength and production capabilities.

ConocoPhillips (COP) sold 43,000 acres in South Texas to Ensign Natural Resources II for $1.2 billion. The sale is part of COP's asset pruning post-Marathon Oil acquisition. Mineral owners will continue receiving royalty payments, which are not considered earnings under Social Security's retirement test.

US stocks fell after the Federal Reserve raised interest rates to combat inflation, with the Dow, S&P 500, and Nasdaq declining. Tech shares gained, while energy stocks dropped due to easing oil prices. Chevron and ExxonMobil fell over 2%, while Intel rose 4% on chip manufacturing talks. Robinhood dropped 5.5% after crypto legislation failed and insider trading charges.

The Dow dropped over 600 points after the Federal Reserve raised interest rates to combat inflation. The Fed indicated more hikes may follow. Oil prices dipped on supply news. S&P 500 and Nasdaq also fell. Chevron and Exxon Mobil declined, while Intel rose on chip manufacturing talks.

ConocoPhillips (COP) director Robert A. Niblock received a grant of 270 stock units valued at $138.972 each, increasing his total holdings to 96,396.105 units. The units will be paid in five annual installments post-separation, per SEC filing.

The U.S. Federal Reserve raised interest rates for the first time in over three years to combat inflation. The decision was unanimous, and more hikes are expected. Wall Street reacted with volatility, with tech shares gaining and energy stocks declining. Chevron and Exxon Mobil fell, while Intel rose on news of potential chip manufacturing talks with SK Hynix. Robinhood shares dropped due to failed crypto legislation and insider trading charges.

The S&P 500 rose 0.4% to 7,615.70, while the Nasdaq 100 gained 0.9% as crude oil prices fell. The Fed is expected to raise interest rates by 25 basis points. Retail sales and import prices exceeded expectations. Energy stocks declined, while tech and semiconductor sectors led gains. Forgent Power Solutions (FPS) surged 11.6% on strong earnings, while J.B. Hunt (JBHT) dropped 12.5% on earnings guidance.

U.S. gas prices rose 3.8% last week, with Regular at $4.37/gallon. The increase, driven by Middle East supply disruptions, caused oil stocks to fall. XOM, CVX, COP, EOG, OXY, BP, and SLB all declined, with EOG and OXY down 4.25%. Analysts favor CVX, COP, and SLB, with SLB having the highest upside potential at 19.56%.