ConocoPhillips's $22.5 billion deal for Marathon Oil highlights energy M&A wave

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Conocophillips News

Marathon Oil,Exxonmobil,Chevron

US energy consolidation continues with the announcement that ConocoPhillips will buy Marathon Oil for $22.5 billion.

) recently closed on its $59.5 billion acquisition of Pioneer Natural Resources, expanding its access in the lucrative Permian Basin region. And on Tuesday, Hess ," CFRA equity research analyst Stewart Glickman wrote immediately following the announcement. The analyst maintains a Hold rating on ConocoPhillips, with a $125 price target on the stock.

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