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Stock Market & Financial Investment News

News Breaks
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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November 27, 2014
10:25 EDTCOPOPEC decided not to cut oil production, CNBC reports
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November 26, 2014
06:42 EDTCOPSaudis unlikely to seek oil output changes, Reuters reports
Saudi Arabia indicated today that it probably won't seek major changes in OPEC's oil output during the group's meeting this week, according to Reuters. The oil market should "stabilize itself" eventually, the news service quoted Saudi Oil Minister Ali al-Naimi. as saying OPEC members Venezuela and Iraq have called for output cuts, while non-OPEC member Russia said it would not reduce production, the news service stated. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).Reference Link
November 25, 2014
13:01 EDTCOPOPEC leans toward compromise to cut supplies, WSJ says
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November 23, 2014
19:12 EDTCOPIran may suggest 1M barrel a day cut at OPEC meeting, Bloomberg says
According to media reports in Iran, the Iranian oil minister Bijan Namdar Zanganeh may speak with Saudi Arabia’s Oil Minister Ali Al-Naimi on the sidelines of the OPEC meeting in Vienna this week to propose that OPEC cut its output target by as much as 1 million barrels a day, says Bloomberg. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
November 18, 2014
18:26 EDTCOPKeystone pipeline legislation voted down by U.S. Senate
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10:03 EDTCOPConocoPhillips management to meet with ISI Group
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November 14, 2014
16:39 EDTCOPBerkshire Hathaway gives quarterly update on stakes
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