Cowen reiterates HOLD on COP "continuing cash deficit to pay dividends"
Cowen Securities Reiterates Hold Rating on ConocoPhillips on In-Line 1Q13 Results
8:44a ET April 26, 2013 (Benzinga)
In a report published Friday, Cowen Securities analyst Asit Sen reiterated a Hold rating on ConocoPhillips (NYSE: COP).
In the report, Sen noted, “1Q13 results were in line with expectations. While we believe COP's target to improve annual CF by ~$6Bn by 2017 is attainable, a continuing cash deficit to pay dividends (particularly in a less robust oil price backdrop) & potential risks associated with the APLNG project keep us on the sidelines.”