64.66 -0.54 (-0.82%)
After hours: 4:33PM EST
|Bid||65.01 x 900|
|Ask||69.49 x 1800|
|Day's Range||63.30 - 65.79|
|52 Week Range||50.18 - 80.24|
|Beta (3Y Monthly)||1.48|
|PE Ratio (TTM)||12.92|
|Earnings Date||Jan 30, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||1.22 (1.85%)|
|1y Target Est||81.32|
The cost of shale production has fallen so much since then that it’s becoming a safe haven for major oil companies in times of volatile prices, providing rapid, reliable growth and quick returns even with crude trading for just over $50 a barrel, down by almost a third since the start of October. The U.S. shale sector has helped boost American production to an average of 10.9 million barrels a day this year, the most on record. ConocoPhillips said Monday it’s spending half its 2019 budget in the continental U.S., while Chevron Corp. is investing more at home than it’s done for more than a decade, with $3.6 billion going to the Permian Basin alone.
Meanwhile, Libya’s state oil firm declared force majeure at its largest oil field after members of the Petroleum Facilities Guard shut down pumps leading to tanks. Crude is paring this year’s losses after the Organization of Petroleum Exporting Countries and its partners defied U.S. President Donald Trump’s call for the producer group to keep taps open.
ConocoPhillips (NYSE: COP) has been around since 1875 in one form or another, so it has a lot of experience dealing with the booms and busts in the energy patch. COP stock is up 32% in the past year and that includes all the mess that we’ve been in recently. It’s an odd time in the energy patch, given that prices for oil are very low yet we’re technically in a recovery.
The plan will allow ConocoPhillips produce 1.3 million to 1.35 million barrels per day and to generate free cash flow as long as WTI oil prices remain above $40 per barrel.
Oil and gas producer Hess Corp and Conocophillips both expect production for 2019 to be higher than this year even as they spend roughly the same amount of money on exploration, the companies said on Monday. Hess said the lion's share of its 2019 capital expenditure will go towards exploration in Guyana and Bakken. Conoco will spend most of its capex in Alaska and Canada, it said.
Troll Phase 3 is considered one of Equinor's (EQNR) most profitable and flexible projects with a break-even of less than $10 per barrel.
plans $6.1 billion of capital expenditures in 2019, the oil and gas giant said Monday, which is about the same amount the Houston-based company will spend by the end of 2018. The 2019 capital budget includes funding for ongoing conventional and unconventional development drilling programs, major projects, exploration and appraisal activities, and base maintenance activities. The 2019 capital budget doesn't reflect potential dispositions that may occur in the year, the company said.
The recent oil downturn is the perfect example of why Exxon is a better dividend stock than ConocoPhillips.
ConocoPhillips set its capital budget for 2019 on Monday, saying it plans to spend $6.1 billion, or roughly the same as will be spent by end 2018. The energy company said it is increasing its target payout to shareholders to more than 30% of cash from operations, up from 20% to 30%. The company is expecting to buy back $3 billion of its own stock. It expects 2019 production to range from 1,300 thousand barrels of oil equivalent per day (MBOED) to $1,350 MBOED. "We are running our business for sustained through-cycle financial returns, which is necessary for attracting investors back to the E&P sector," Chief Executive Ryan Lance said in a statement. "We believe we have designed ConocoPhillips to offer investors both resilience to lower prices and participation in higher prices via an approach that rations capital across a low cost of supply portfolio, competes on per-share versus absolute growth, and pays out a significant portion of cash from the business to shareholders." Shares rose about 1% premarket, and have gained 20% in 2018, while the S&P 500 has fallen 1.5%.
ConocoPhillips (COP) today announced its 2019 capital expenditure budget and operating plan. The operating plan reflects the company’s ongoing commitment to free cash flow generation, differentiated payout to shareholders and superior financial returns through business cycles.
Amid an overall market correction, many stocks that smart money investors were collectively bullish on tanked during the fourth quarter. Among them, Amazon and Netflix ranked among the top 30 picks and both lost around 20%. Facebook, which was the second most popular stock, lost 14% amid uncertainty regarding the interest rates and tech valuations. […]
Crude oil prices have been getting crushed over the past few months. The decline in oil makes the stock market’s run look pretty good, with crude falling almost 35% from peak to trough after coming into October near its highs. Some view rising oil prices as a negative burden, something that weighs on consumers and hurts their purchasing power.
On December 2, Rachel Notley, Premier of Alberta, announced a reduction of 8.7% or 325,000 barrels per day of raw crude oil and bitumen in Alberta’s production. After a significant reduction in the storage, authorities might lower the production cut to 95,000 barrels per day in December 2019. On December 3, the gap between the WTI and WCS (Western Canada Select) price contracted by ~$4 per barrel.
Energy stocks have had a difficult 2018. Mostly flat performance through most of the year turned into a tailspin in October as oil prices plunged from above $75 per barrel to below $50. That in turn has pinched oil companies that rely on elevated commodity prices to drive larger profits. The headwinds are clear. Demand has slowed to a crawl, and supplies have piled up despite production cuts from several nations. Fears about U.S.-China trade relations have weighed, as have worries about sanctions on Iran. It's no wonder why energy stocks have taken it on the chin. But the skies are starting to clear as we head into 2019. OPEC and other nations are beginning to discuss additional output curbs, and with U.S. shale producers running at full capacity, there really isn't much room for them to pick up any slack. The U.S. and China have made progress on trade talks, too, including a 90-day moratorium on increasing tariffs. Investors diving into the sector still need to be choosy. A rebound in oil is far from a certainty, which means it's necessary to put a premium on quality right now. Here, we look at the 10 best energy stocks to buy for 2019 - those that can best take advantage of the current energy environment. SEE ALSO: 101 Best Dividend Stocks to Buy for 2019 and Beyond
In November, Devon Energy (DVN) fell 16.6%—the biggest decline on our list of upstream stocks. Our list of upstream stocks is based on the S&P 500 Index’s (SPY) upstream energy sector holdings.
In November 2018, Occidental Petroleum (OXY) gained 4.8%, the biggest gain among the upstream energy stocks in the S&P 500 Index (SPY).
A wave of mergers and acquisitions in the oil patch has sparked talk about continued consolidation in the sector. But not all executives are on the same page about deal-making.
The trial, before the U.K.’s Southwark Crown Court, centered on bribes and other illicit payments made by a logistics firm now in liquidation, F.H. Bertling Ltd., for a freight forwarding contract as part ...