ConocoPhillips Aims to Pump Up
By James Flaherty | More Articles
December 10, 2012
ConocoPhillips (NYSE:COP) has set their 2013 capital spending plan at $15.8 billion, unchanged from 2012. The company, which is in the middle of reorganization, will allocate 60 percent of its capital to its North American businesses and 40 percent to Europe, reports MarketWatch.
Planned Asset Sales
The company plans to complete its asset-sales program next year, which recently included the sale of its stake in a Kazakhstan project to an India company for $5 billion, with $20 billion of planned sales still to come.
“When this program is complete, the combination of portfolio high-grading and strong ongoing investment programs will put ConocoPhillips on track to deliver on our long-term annual growth goals of 3 to 5 percent on both volumes and margins, with a compelling dividend,” the company said in a statement.
Conoco split into today different companies. PSX is in the spin off, and that's why the big drop happened. For every 2 shares of COP, shareholders received 1 share of PSX. It was a glorious split, PSX is up 80% after the split, and COP is up about 8%. Win win for everyone involved.
Just wish i shifted more of my COP into PSX after the split. But either way im happy.
COP could be a takeover target for CVX, but I think the odds would be against it. I don't believe the current administration would even consider it. It is true COP has shed the pieces of the company that anybody large enough to buy them likely would not want. I don't put the odds of a buyout at more than 10%. Just my opinion.