ConocoPhillips (NYSE: COP ) was up today, after coming in at $1.44, significantly surpassing analysts' $1.20 estimates. Having recently come off their spin-off of their downstream, Conoco is a difficult company to value and compare right now, as it has some big transformations lined up for the future. If all goes as planned, ConocoPhillips will be a huge North-American upstream E&P in just a few years' time.
Changes ahead for Conoco include focusing capital expenditure on new oil-rich fields, such as the Bakken and Eagle Ford, as well as moving away from natural gas and shifting their concentration almost entirely to production. The company will also work on improving its balance sheet, and plans to steadily increase its dividend -- a very shareholder-friendly move.
In the video below, Fool.com analyst Joel South reviews the company's three-year plan, emphasizing key focal points that investors need to watch. And if you're looking for even more intriguing energy plays, then check out The Motley Fool's free premium report, "3 Stocks for $100 Oil." This current, in-depth analysis won't be available forever, so click here now to claim your copy today.