The approved project is 14 miles from the city of Odessa and includes three wells that will store about 722,000 metric tons of carbon dioxide per year.
Seeing as beverages are one of the most essential consumer items, Coca-Cola stock is historically known to be a pleasant hedge against market volatility when economic uncertainty arises.
According to FinChat data, Wall Street expects the company to post earnings per share of $1.78 on revenue of $898.5 million for the fiscal second quarter.
