COP - ConocoPhillips

NYSE - Nasdaq Real Time Price. Currency in USD
54.14
-0.39 (-0.72%)
As of 3:38PM EDT. Market open.
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Previous Close54.53
Open54.66
Bid54.10 x 2900
Ask54.11 x 1400
Day's Range54.01 - 54.86
52 Week Range50.13 - 73.90
Volume3,234,349
Avg. Volume6,631,455
Market Cap60.103B
Beta (3Y Monthly)0.82
PE Ratio (TTM)8.73
EPS (TTM)6.20
Earnings DateOct 29, 2019
Forward Dividend & Yield1.68 (3.08%)
Ex-Dividend Date2019-07-19
1y Target Est73.16
Trade prices are not sourced from all markets
  • Things You Should Know About the EIA Crude Inventory Report
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    Things You Should Know About the EIA Crude Inventory Report

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    Warren Buffett on His 'Most Fun' Personal Investment

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  • The Zacks Analyst Blog Highlights: ConocoPhillips, Phillips 66, BP and TOTAL
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  • The Zacks Analyst Blog Highlights: Intel, Oracle, Novo Nordisk, ConocoPhillips and Advanced Micro Devices
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  • Are Investors Falling Out of Love With Oil & Gas Mergers?
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  • Oil & Gas Stock Roundup: ConocoPhillips' Australia Asset Sale, Phillips 66's Buyback & More
    Zacks

    Oil & Gas Stock Roundup: ConocoPhillips' Australia Asset Sale, Phillips 66's Buyback & More

    ConocoPhillips (COP) entered into an agreement to sell some of its portfolio in Australia for $1.39 billion. Meanwhile, downstream major Phillips 66 (PSX) launched a $3 billion new buyback program.

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  • I Ran A Stock Scan For Earnings Growth And ConocoPhillips (NYSE:COP) Passed With Ease
    Simply Wall St.

    I Ran A Stock Scan For Earnings Growth And ConocoPhillips (NYSE:COP) Passed With Ease

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  • 3 ‘Perfect 10’ Stocks That Could Win Big
    TipRanks

    3 ‘Perfect 10’ Stocks That Could Win Big

    US-China trade talks resumed on Thursday, and on Friday President Trump announced a preliminary agreement outlining Phase I of a potential trade deal. The outline includes ramped-up Chinese purchase of US agricultural products and US cancellation of new tariffs planned for October 15. The news made an immediate impact on the markets, with the Dow Jones jumping 320 points on by Friday’s close, and the S&P 500 adding a 1.1% gain of 32 points.So, markets are looking up after two volatile weeks, and investors want to know the best places to put their money. TipRanks has the guide you need to find the right stocks to buy, in the Smart Score tool. The Smart Score uses a multi-factor analysis to rate every stock in the market, taking data from insider opinions, hedge fund activity, news sentiment, and technical and fundamental analyses. The result is distilled to a single number on a rising scale of 1 to 10, making it simple and intuitive to use.Using the Smart Score filters, we’ve picked out three stocks with perfect 10 scores and Buy ratings that are ready to rise with today’s markets.PagSeguro Digital (PAGS)For investors in the US markets, Brazil’s banking industry may not be the first sector that comes to mind when considering profits. PagSeguro, however, is not a typical component of the banking industry. It’s an online e-commerce payment service, catering to commercial clients primarily among Brazil’s banks, but also internationally. It’s a successful niche; PagSeguro’s stock is up an eye-catching 143% year-to-date.Taking a close look at the Smart Score, we see that the technical factors are positive. PAGS’s return on equity is a healthy 17.67%. Hedge fund activity on this stock is rising, with the major funds increasing their holdings by more than 330,000 shares in the last quarter. Finally, the financial bloggers are bullish on PAGS, with the positive sentiment at 80%, well above the sector average of 65%.The stock’s market performance and future potential have gained the notice of Wall Street’s analysts. Writing from JPMorgan, Domingos Falavina notes the company’s drive to expand services beyond the core niche of Brazilian banks to international commercial clients, saying, “PagSeguro disclosed its banking initiative already has 1.4mn clients. Some of those clients are micro merchants and existed preceding the retail initiative launched mid-May; others however are new net adds from May launch. We estimate consumer retail clients will reach ~3mn by YE 2020 and we attribute an economic value to them of~$1k/client.”He sums up his stance on PAGS by saying, “PagSeguro will leverage on strong brand value to now successfully deliver a banking solution to the long tail of retail customers.” In line with his upbeat outlook on the stock, Falavina raised his price target by 50%, from $40 to $60. His new price target suggests an upside potential of about 30% to PAGS stock. (To watch Falavina'a track record, click here)Moving on to Deutsche Bank’s Bryan Keane who met the company’s CEO Ricardo Dutra da Silva at an industry conference in Las Vegas. After speaking with the CEO, Keane wrote, “Since going public and despite the increase in competitors, Mr. Dutra’s belief that micro-merchants are not price sensitive to merchant discount rates (MDRs) has been confirmed… Highlighting the health of the business, we believe net merchant adds are running ahead of plan and that guidance for ~1m in FY19 will ultimately prove conservative.” He sees a bullish future for PAGS, and sets a $57 price target, describing the company’s strategy as "winning."Overall, the two most recent analyst reviews on PAGS are Buy ratings, making the stock an overall Moderate Buy on TipRanks. Shares are trading for $45.68, and have an average price target of $58.50, making the upside potential a healthy 28%. (See PagSeguro stock analysis on TipRanks)Arista Networks (ANET)Arista is a mid-cap networking company out of Silicon Valley. Arista produces multilayer network switches and software-defined networking in the cloud computing and datacenter sectors. The company’s products are found in the high-performance computing and high-frequency trading environments, and run on a company-designed Linux-based operating system.The high-end networking niche brought Arista $328 million in profit last year, on more than $2.15 billion in revenues. Better yet, Arista has beaten quarterly earnings expectations in every report for the last two years. In the most recent report, for Q2 released, the company’s $2.20 EPS beat the forecast by 11%.The Smart Score reflects this underlying strength. Return on equity is up 34.33%, and the asset growth is up 21.51%. More importantly, the sentiment on this stock is bullish News sentiment, which measures the stock’s standing in journalistic coverage, is 100% bullish, while the bloggers sentiment comes in at 91%.A profitable niche in the computer networking industry, and a history of beating the earnings forecasts, have earned ANET accolades from some of the Street’s top analysts. 5-star Cowen analyst Paul Silverstein gave this stock a $295 price target after attending investor meetings with the company CFO. In support of his high price target, Silverstein wrote, “Arista should continue to benefit from an ongoing data center upgrade. Arista’s high-performance EOS has proved to be a significant competitive differentiator, delivering ease, speed and agility of application and service provisioning. Arista also enjoys a management team that has a demonstrated ability to open doors and close deals.”James Fish, a 4-star analyst with Piper Jaffray, reiterated his Buy rating on ANET last week. In his previous comments on the stock, he pointed out, “Arista is furthest along in the contribution of software to its business relative to peers, and the updates likely create further adoption… Arista has only penetrated ~10% of its installed base with CloudVision, leaving a large opportunity ahead… We believe Arista remains best-in-class for datacenter switching.” Fish’s $272 target indicates a potential for 15% upside to ANET.Overall, this stock has a Moderate Buy from the analyst consensus. This is based on 12 ratings given in the last three months, including 7 "buys" and 5 "holds." Shares are selling for $236, and the average price target of $279 implies room for an 19% upside. (See Arista stock analysis on TipRanks)ConocoPhillips (COP)With our third ‘perfect 10’ stock, we enter the energy market. ConocoPhillips is an old name in the oil industry, and stands as the largest exploration and production company in the petroleum sector. COP showed 2018 revenue of $38.727 billion, and generated net profits of $6.257 billion. The company beat earnings expectations in 3 of the last 4 quarters. Impressively, COP has managed this despite crude oil prices dropping over the past six months.Turning to the Smart Score, COP shows some impressive stats. Blogger opinion is 88% bullish, and news sentiment is 100% bullish. In the fundamentals, the 12-month return on equity is 22.28%, and the asset growth is 3.37%. The most impressive mark, however, comes from the hedge fund activity; the major funds purchased over 4 million shares of COP in the second quarter of 2019.For income-minded investors, COP offers a newly increased dividend and a commitment to boosting share value. The company this month announced a 38% increase to the dividend, making the quarterly payment 42 cents per share and bumping the annual yield to 3.1%. For comparison, the average dividend yield on the S$P 500 is 2%. Despite the drop in oil prices, COP has $12 billion in liquid assets to back up the announced $3 billion in share buybacks for 2020.UBS analyst Lloyd Byrne is impressed with COP’s performance. He reiterated his Buy rating, saying, “We think COP is taking the right steps to attract the generalist: a stable business model with visibility that focuses on returns on capital, and returning excess cash flow to the shareholder… COP holds their investor day on Nov 19th and is expected to detail a 10-year outlook including a more detailed capital plan… We expect a plan that provides details into asset specific trajectories including Eagle Ford, Bakken, Delaware, international (Montney?) and Alaska assets.” In line with this optimistic outlook, Byrne put a $75 price target on the stock, suggesting an upside potential of 33%.Overall, COP holds a Strong Buy from the analyst consensus, with 5 "buys" and 1 "hold" ratings given in the past three months. Shares sell for $56.43 and have an average price target of $74, giving the stock room for about 30% upside. (See ConocoPhillips stock analysis on TipRanks)

  • Stock Market News For Oct 14, 2019
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    Stock Market News For Oct 14, 2019

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  • ConocoPhillips to sell more international assets for $1.4B
    American City Business Journals

    ConocoPhillips to sell more international assets for $1.4B

    ConocoPhillips is selling most of its Australian assets in a deal that could be worth more than $1.4 billion.

  • ConocoPhillips Inks Deal to Sell $1.4B Australia-West Assets
    Zacks

    ConocoPhillips Inks Deal to Sell $1.4B Australia-West Assets

    ConocoPhillips (COP) plans to focus on other projects that are likely to generate significant returns for shareholders in the long run.

  • TheStreet.com

    ConocoPhillips Selling Australia-West Assets to Santos for $1.39 Billion

    ConocoPhillips says the sale allows it to 'allocate capital to other projects that we believe will generate the highest long-term value.'

  • Santos Targets Asia LNG Growth With $1.4 Billion Conoco Deal
    Bloomberg

    Santos Targets Asia LNG Growth With $1.4 Billion Conoco Deal

    (Bloomberg) -- Santos Ltd. agreed to buy ConocoPhillips’ northern Australia business for $1.4 billion in a deal that will boost the Adelaide-based oil and gas producer’s position in the growing Asian liquefied natural gas market.The transaction may allow Santos to become the country’s largest independent energy producer and capitalize on a push by Asian consumers, including China, to switch to cleaner burning natural gas away from coal. Conoco is selling its operating interests in the Darwin LNG processing plant and the Bayu-Undan, Barossa and Poseidon gas fields.“The acquisition of these assets fully aligns with Santos’ growth strategy to build on existing infrastructure positions, while advancing our aim to be a leading regional LNG supplier,” Santos Chief Executive Officer Kevin Gallagher said in a statement.Santos has been expanding its position in the Australian oil and gas market having acquired Quadrant Energy for about $2.15 billion in 2018. Its latest deal could help it become Australia’s top independent energy producer: Santos and Conoco’s northern Australia assets produced about 94 million barrels of oil equivalent last year, compared to Woodside Petroleum Ltd.’s 91.4 million.Sanford C. Bernstein & Co. analysts said Conoco’s northern Australia business has a net asset value of about $1.8 billion, citing Rystad Energy AS. The deal has “compelling strategic merit,” RBC energy analyst Ben Wilson said in a note to clients, adding that the price looked reasonable based on RBC’s valuation of the assets at around $1.63 billion.Santos, which posted its biggest share gain this year, said it would fund the acquisition from existing cash and $750 million in new two-year debt. Conoco will receive a further $75 million once Barossa enters final investment decision.Conoco is the second U.S. energy major to announce plans to sell down its interests in Australia after Exxon Mobil Corp. in September said it would start a process to find a buyer for its Bass Strait producing assets off the coast of southeast Australia. Conoco completed the sale of its stake in the Greater Sunrise field to Timor-Leste’s government for $350 million earlier this year, and the Santos deal will free up capital to invest in U.S. shale and return cash to shareholders, two of its priorities in recent years.Conoco is also operator of the Australia Pacific LNG export facility in Queensland, which is not part of the Santos deal.Advanced TalksSantos plans to sell 25% of Conoco’s interest in the Darwin LNG export plant to South Korean firm SK E&S as part of the agreement. The company is also in talks with the facility’s joint venture partners, which include Inpex Corp, Tokyo Gas Co. Ltd., Jera Co. and Italy’s Eni SpA, to sell equity in the Barossa field, which has been earmarked to back-fill the Darwin plant once Bayu-Undan reserves run dry around the end of 2022. Santos will target ownership stakes in both the assets of 40%-50%.“What we’re seeking is alignment,” said Gallagher on a media call. “What we’re looking for is people to be balanced on both sides of the joint venture,” he added, referring to partners having stakes in both Darwin LNG and Barossa.Gallagher said the company is in advanced discussions with LNG buyers for gas off-take from Barossa, including with an existing partner in Darwin LNG, and was looking to contract 60%-80% of gas volumes for the project prior to taking a FID, which is expected in early 2020.As an upstream, brownfield project, Barossa was “low risk” compared to new greenfield LNG projects around the world, “and because of that it’s got a very competitive cost of supply,” said Gallagher. Its location close to Asian markets also meant that shipping costs were less than from other competing projects. “It’s got very robust economics, even in this soft market that we find ourselves in today.”Santos has ambitious plans to grow DLNG capacity by up to 10 million tons per annum, compared to 3.7 mtpa currently. Over the longer term, the potentially huge onshore gas shale reserves in the Beetaloo and McArthur Basins could be processed through DLNG, Gallagher said.Santos’s shares ended 5.7% higher in Sydney trading Monday, having risen as much as 7.7% at one point.Following the SK sell-down, Santos’ holding in Darwin LNG is expected to be 43.4%, with SK at 25%, Inpex at 11.4%, Eni at 11%, Jera at 6.1% and Tokyo Gas at 3.1%. Santos will hold 62.5% in Barossa, with SK owning the remaining 37.5%.(Updates share price in sixth and penultimate paragraphs)\--With assistance from Dan Murtaugh.To contact the reporter on this story: James Thornhill in Sydney at jthornhill3@bloomberg.netTo contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Aaron Clark, Jasmine NgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Rigzone.com

    ConocoPhillips to Divest Some Australia Assets

    ConocoPhillips has agreed to sell the subsidiaries holding its Australia-West assets and operations to Santos Limited for US$1.39 billion.

  • Reuters

    ConocoPhillips agrees to sell Australian assets to Santos for $1.39 bln

    Energy company ConocoPhillips said on Monday it had agreed to sell most of its Australian assets to rival Santos Ltd for $1.39 billion, with the deal expected to close in the first quarter of 2020. The U.S. company said it was selling its stakes in the Darwin LNG plant, which it built, the Bayu-Undan field which feeds the plant, the Barossa-Caldita field which may supply the LNG plant in future, and its Poseidon gas asset.

  • Reuters

    UPDATE 3-ConocoPhillips quits northern Australia in $1.4 bln sale to Santos

    ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group's output by 25% and boost its position in the global gas market. The deal, which was not unexpected, marks the second major acquisition by Santos in less than a year, following a sharp turnaround in its fortunes under Managing Director Kevin Gallagher, and pushed its shares up 7% in early trade on Monday. ConocoPhillips, which has been focusing on its U.S. shale assets, will quit the Darwin LNG plant, which it opened in 2006, and gas fields off northern Australia, but hold on to its stake in the Australia Pacific LNG plant in Queensland state.

  • ConocoPhillips quits northern Australia in $1.4 billion sale to Santos
    Reuters

    ConocoPhillips quits northern Australia in $1.4 billion sale to Santos

    ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group's output by 25% and boost its position in the global gas market. The deal, which was not unexpected, marks the second major acquisition by Santos in less than a year, following a sharp turnaround in its fortunes under Managing Director Kevin Gallagher, and pushed its shares up 7% in early trade on Monday. ConocoPhillips, which has been focusing on its U.S. shale assets, will quit the Darwin LNG plant, which it opened in 2006, and gas fields off northern Australia, but hold on to its stake in the Australia Pacific LNG plant in Queensland state.

  • Business Wire

    ConocoPhillips Announces Agreement to Sell Interests in Australia-West for $1.39 Billion

    ConocoPhillips (COP) today announced it has entered into an agreement to sell the subsidiaries that hold its Australia-West assets and operations to Santos for $1.39 billion, plus customary closing adjustments. In addition, the company will also receive a payment of $75 million upon final investment decision of the Barossa development project. The subsidiaries hold the company’s 37.5 percent interest in the Barossa project and Caldita Field, its 56.9 percent interest in the Darwin LNG facility and Bayu-Undan Field, its 40 percent interest in the Poseidon Field, and its 50 percent interest in the Athena Field.

  • America’s Great Shale Oil Boom Is Nearly Over
    Bloomberg

    America’s Great Shale Oil Boom Is Nearly Over

    (Bloomberg Opinion) -- America’s second shale boom is running out of steam. But don’t panic just yet, a third one may be coming over the horizon.The U.S. Energy Information Administration published its latest short-term energy outlook last week and has cut its forecast of oil production by the end of 2020 for the fourth straight month. It now expects American output to rise by just 370,000 barrels a day over the course of next year. That will be the slowest growth in four years and is yet another indicator that the latest period of rapid shale expansion is faltering.The number of rigs drilling for oil in the U.S. has fallen in each of the last 10 months, dropping by a total of 20% since November. And productivity gains are waning. Drilling in the Permian, the most prolific of the shale basins, fell by 11% in the nine months to August, according to the EIA.The development of the U.S. shale patch is a bit like that of a person. During the first growth spurt in the four years to 2014 the industry was in the toddler phase. Everything was new and exciting, the toddlers stuck their fingers (or in this case their drill bits) into everything, just to see what would happen, and they pushed the boundaries in every direction. The toddler developed quickly, but the outside world taught it a hard lesson with a crash in the oil price in 2014.The second boom from 2016 has been more like the adolescent phase. After picking themselves up and learning to live in their changed world, the young adults developed their muscles and concentrated only on the things that interested them (the sweet spots in the shale deposits) to the exclusion of everything else. This focus has brought bigger output gains than the first boom. In the three years between December 2016 and December 2019 output is expected to have increased by 4.2 million barrels a day, compared with 3.9 million barrels a day between December 2010 and December 2014.The biggest challenges of the second shale boom have been identifying and exploiting those sweet spots, consolidating acreage to enable the use of longer wells, and building infrastructure to move the gas and liquids to markets (including overseas).But with a WTI oil price of about $50 a barrel, some in the shale patch are struggling. Shale companies are being forced to produce more to service their high debts, but they aren’t making any surplus profit to cut their borrowing or pay shareholders. Now those investors are starting to demand more of a return.With the crude price seemingly stuck close to where it is — despite the tensions in the Persian Gulf region which flared up again on Friday —  the next round of discussions between the shale producers and their lenders could be difficult. Some mergers may follow.Yet fans of U.S. oil shouldn’t be disconsolate. The end of the second shale boom will usher in a third: the period of young adulthood. This will bring a range of new skills, but production will grow at a more measured pace.This third boom will be driven by the international oil majors and will be characterized by a focus on better extraction, rather than rapid output growth. The application of enhanced oil recovery techniques, consolidation of ownership, automation of drilling, and rationalizing of supply chains will increase the volume of oil extracted over the lifetime of a well and reduce costs. But it won’t deliver the same pace of growth as seen recently.The recovery rate of oil from shale deposits is typically about 5%-10%, but ConocoPhillips has pushed recovery as high as 20% in some parts of the Eagle Ford shale play in Texas, and it could reach 40% under the right circumstances. The upside to the lifetime recovery rate from Eagle Ford would be huge, potentially extending higher production rates for longer.The third shale boom is coming. Just don’t expect it to look like the first two.To contact the author of this story: Julian Lee at jlee1627@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Julian Lee is an oil strategist for Bloomberg. Previously he worked as a senior analyst at the Centre for Global Energy Studies.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Financial Times

    New king of the North Sea takes on Total and BP

    The former chartered accountant recoils at the moniker “New King of the North Sea” but the company he founded in 2007 has gone from relative anonymity to the top ranks of producers in the UK region at breakneck speed. “Staff and contractors now are about 1,800,” Mr Kirk said.

  • Saudi Aramco to delay launch of its IPO
    Yahoo Finance Video

    Saudi Aramco to delay launch of its IPO

    According to recent reports, Saudi Aramco has delayed its massive IPO until at least December. Aramco had been expected to announce plans next week, in what would have been one of the largest ever IPOS, worth upwards of $20 billion dollars. Yahoo Finance's Dan Roberts, Heidi Chung, Kristin Myers and Scott Gamm discuss on YFi AM.