|Bid||44.04 x 200|
|Ask||44.05 x 400|
|Day's Range||43.82 - 44.49|
|52 Week Range||38.80 - 53.17|
|PE Ratio (TTM)||-34.89|
|Dividend & Yield||1.06 (2.43%)|
|1y Target Est||N/A|
Exxon and Chevron could follow exploration and producing companies in cutting capital spending when they report Q2 earnings early Friday.
Shares of oil producer Cenovus Energy Inc surged more than 6 percent on Thursday after the company reported a second-quarter profit, compared with a year-ago loss, helped by its purchase of ConocoPhillips' Canadian oil sands assets. Cenovus, which paid $13.3 billion in March to buy the assets, said the purchase boosted total production by 65 percent to 436,929 barrels of oil equivalent per day in the quarter. ConocoPhillips sold its 50 percent interest in the Foster Creek Christina Lake oil sands partnership, as well as the majority of its western Canada Deep Basin conventional gas assets.
ConocoPhillips (COP.N) slashed its 2017 capital spending by 4 percent on Thursday, the latest U.S. oil and natural gas producer to do so in reaction to depressed crude prices. Conoco and its peers had mapped out ambitious capital spending programs for 2017 early in the year, expecting oil prices to be higher than where they are today, just under $50 per barrel. "This is the right approach for value creation in the upstream sector, especially at a time of uncertainty in the commodity markets," Conoco Chief Executive Officer Ryan Lance said in a statement.