Over the past three months, ConocoPhillips (NYSE: COP) has experienced a 12.6% fall, underperforming the industry's 3.9% decline. Recent investor concerns primarily stem from the premium ConocoPhillips is set to pay for acquiring Marathon Oil Corporation (NYSE: MRO) and the expected increase in debt due to this transaction. Image Source: Zacks Investment Research MRO Deal Seems Expensive at First Glance: Cause for Concern? On May 29, ConocoPhillips finalized an agreement to acquire Marathon Oil in an all-stock deal valued at $22.5 billion, which also incorporates $5.4 billion in net debt. According to the terms, Marathon shareholders will receive 0.2550 shares of ConocoPhillips for each of their shares, marking a 14.7% premium over Marathon Oil's previous day's closing price.  Despite investor concerns regarding the premium ConocoPhillips is offering and the accompanying debt it will incur, the company's long-term outlook appears promising, buoyed by its history of acquiring low-cost assets. ConocoPhillips has consistently emphasized its focus on targeting acquisitions that align with the long-term goal of creating stockholder wealth. Notably, the recent agreement to acquire Marathon Oil, anticipated to close in the fourth quarter ...