Analyst expects COP to have a negative reaction vs. its peers today. ConocoPhillips announced its plan for the acquisition of Marathon Oil. Can gain exposure through IEO and WEEI.
Volatility surged back into the market on Wednesday, with the CBOE Volatility Index (VIX) spiking 9% after hitting nearly three-year lows last week, fueled by fresh upticks in Treasury bond yields.
Marathon Oil shares up 7.45% and ConocoPhillips shares down 3.56% after deal announcement for ConocoPhillips to acquire Marathon Oil for $22.5 billion in all-stock transaction.
Return of capital update
Independent of the transaction, ConocoPhillips expects to increase its ordinary base dividend by 34% to 78 cents per share starting in the fourth quarter of 2024. Upon
ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transactionConocoPhillips (NYSE: