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May 13, 2014
11:07 EDTCOPConocoPhillips reaffirms goal to deliver double digit annual returns
ConocoPhillips today held its Annual Meeting of Stockholders where it reaffirmed its goal to deliver double-digit annual returns to shareholders. "ConocoPhillips is set for growth,” said Chairman and CEO Ryan Lance. “Our goal is to deliver 3 to 5 percent growth in both volumes and margins, with a compelling dividend. We believe there is clear demand for this kind of energy stock.” At the meeting, the company highlighted several key accomplishments in its first two years as an E&P company. These include: generating proceeds of $12.4B from the sale of non-core assets; delivering several major project startups; ramping up development drilling programs, primarily in the unconventionals; participating in four deepwater Gulf of Mexico exploration successes; and achieving a two-year average of 167% organic reserve replacement ratio. The company also raised its dividend in 2013 and remains committed to increases over time. During the meeting, the company also reiterated its five ongoing strategic priorities to drive long-term performance: Deliver 3%-5% compound annual production growth, as well as growth in reserves, through global drilling programs in legacy assets, unconventional assets and major projects. The company is also actively pursuing conventional and unconventional exploration opportunities that can sustain future growth; Generate 3%-5% compound annual margin growth over the next several years, at flat prices, by shifting the company’s production mix to higher-value products; Offer a compelling dividend; and Maintain a relentless focus on safety and execution. The company expects to spend an average of about $16B per year over the next several years to deliver its margin and volume growth. Over the next few years, the company will allocate 95% of its capital toward investments that deliver margins greater than the company’s average today.
News For COP From The Last 14 Days
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October 1, 2015
05:21 EDTCOPStocks with implied volatility movement; GPS COP
Stocks with implied volatility movement; Gap (GPS) 34, ConocoPhillips (COP) 37 according to iVolatility.
September 30, 2015
12:34 EDTCOPConocoPhillips mentioned positively by Seeking Alpha contributor
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09:56 EDTCOPConocoPhillips strength attributed to takeover speculation
September 22, 2015
15:50 EDTCOPConocoPhillips nears deal to sell certain Canadian assets, Bloomberg says
ConocoPhillips (COP) is closing in on a deal to sell several Western Canadian assets to different acquirers including Canadian Natural Resources (CNQ), says Bloomberg, citing sources. A deal for the assets may be reached as early as this week, added Bloomberg. Reference Link
14:19 EDTCOPConocoPhillips nearing sale of some Canada assets, Bloomberg reports
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