Why ConocoPhillips (COP) Stock Is Trading Higher

ConocoPhillips COP shares are trading higher by 2.02% to $109.66 during Tuesday's session. Strength is potentially in sympathy with BP plc and amid strength in crude oil futures for the session.

BP shares are trading higher after the company reported better-than-expected fourth-quarter sales results. The company also announced it's committed to allocating 60% of its 2023 surplus cash flow to share buybacks.

What Happened With BP Earnings?

Our Benzinga team on Tuesday recapped BP's fourth-quarter results. BP reported fourth-quarter revenue of $69.26 billion, which beat average analyst estimates of $53.79 billion. The company reported quarterly earnings of $1.59 per share, which missed average estimates of $1.67 per share...Read More

According to data from Benzinga Pro, ConocoPhillips has a 52-week high of $138.49 and a 52-week low of $78.30.