|Bid||42.35 x 1100|
|Ask||42.48 x 900|
|Day's range||41.67 - 42.75|
|52-week range||20.84 - 67.13|
|Beta (5Y monthly)||1.71|
|PE ratio (TTM)||12.91|
|Earnings date||28 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||1.68 (3.91%)|
|Ex-dividend date||08 May 2020|
|1y target est||48.13|
ConocoPhillips (COP) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
ConocoPhillips (NYSE: COP) today announced the completion of the sale of its subsidiaries that hold its Australia-West assets and operations to Santos. The total consideration for the sale is unchanged; however, in connection with the closing, ConocoPhillips and Santos agreed to restructure the payments such that $125 million of the originally announced $1.39 billion upfront cash payment would be allocated toward a payment due upon final investment decision of the proposed Barossa development project. This brings the total due to ConocoPhillips upon a final investment decision to $200 million.
Halliburton (HAL) told investors it is cutting its dividend by 75%, while National Oilwell Varco (NOV) board suspended the quarterly payout indefinitely to retain cash in the business.
The consent from the Norwegian regulatory authority allows ConocoPhillips (COP) to plug and abandon six wells at the Ekofisk field.
ConocoPhillips (NYSE: COP) today announced the retirement of Don E. Wallette, Jr. as executive vice president and chief financial officer after a successful 39-year career with the company. Wallette’s retirement is effective on Aug. 31, 2020.
Oil prices will likely remain depressed from the shockwaves of lower demand, namely from transportation and industrial use cases. Although the headwinds facing the oil industry are far from over, here are three oil stocks to buy right now for investors that have the patience to give the industry time to recover. Oil continues to provide over 90% of the energy used in transportation around the world.
Oil stocks, on the other hand, continue to lag. The Energy Select Sector SPDR ETF (NYSEMKT: XLE), representing the oil and gas stocks in the S&P 500, is down more than 36%. For many investors, this points sharply at Big Oil -- the biggest companies in the oil patch -- as being great investments as one of the few sectors that is still well below 2020 highs.
Put simply, investors who want to bet on an oil market rebound should look elsewhere. Three better oil stock options are ConocoPhillips (NYSE: COP), EOG Resources (NYSE: EOG), and Pioneer Natural Resources (NYSE: PXD).
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, Royal Dutch Shell, Equinor and ConocoPhillips
Shares of the ConocoPhillips (NYSE: COP), the largest U.S. oil and gas exploration and production company (E&P), rose 36.7% in April, according to data provided by S&P Global Market Intelligence. ConocoPhillips' move was part of a larger recovery in the broader oil industry, which was hammered in March, first as a price war broke out between Saudi Arabia and Russia, and then as coronavirus-related travel restrictions caused demand for automobile and jet fuel to dry up. The severity of March's price downturn combined with questions about the severity and duration of coronavirus-related shutdowns caused ConocoPhillips to take drastic action.
Oil prices have been all over the map this year. While we see those positives, we've also covered the oil market for years, which has tainted our bullishness a bit. If we each could only choose one of those to buy, it would be ConocoPhillips (NYSE: COP), HollyFrontier (NYSE: HFC), and Phillips 66 (NYSE: PSX).
Despite an unprecedented downturn in oil demand that's set to wreak havoc for many months ahead, there are some companies that look buy-worthy right now.
ConocoPhillips Alaska plans to reduce its North Slope production for the month of June by about 100,000 barrels a day, or nearly half its total output, though no layoffs were included with the announcement, the company said Thursday. The company said the decision is in response to "unacceptably low oil prices resulting from global oil demand destruction caused by the impacts of the COVID-19 pandemic, combined with a global oversupply of oil.” This move comes on top of a request by trans-Alaska pipeline system operator Alyeska Pipeline Service Co. that companies deliver 90% of what they had been delivering in anticipation of high inventory in May.
Several oil companies have already filed for bankruptcy, while most others have had to slash spending, shareholder payouts, and production. ConocoPhillips (NYSE: COP) certainly hasn't been immune to this downturn. It reduced its drilling budget twice, suspended its share repurchase program, and curtailed some output.
ConocoPhillips (COP) delivered earnings and revenue surprises of 114.29% and -26.57%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
ConocoPhillips reported a Q1 2020 loss of $1.7 billion, or ($1.60) per share, compared with Q1 2019 earnings of $1.8 billion, or $1.60 per share.
ConocoPhillips (COP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.