ConocoPhillips rises for six consecutive days, aiming for a record closing high

According to historical data since 1972, ConocoPhillips is on track to reach a record closing high. Currently, the oil and natural gas company's stock price hovers around $135, up less than 0.1%. This would mark the company's first new closing record since November 2022. Its share price has now risen for six consecutive trading days, with a cumulative gain of 8.6% during this period.On the news front, the strong performance of ConocoPhillips' stock is mainly attributed to its better-than-expected second-quarter earnings report. Driven by rising energy prices and outstanding operational results, the company's adjusted earnings per share surged 122% year-on-year, and production set a new record. In addition, the company reaffirmed its strong shareholder return plan and received price target upgrades and "Buy" ratings from several Wall Street investment banks, including Susquehanna and Morgan Stanley, significantly boosting market confidence.