|Bid||65.90 x 2200|
|Ask||65.92 x 1000|
|Day's Range||65.52 - 66.39|
|52 Week Range||56.75 - 80.24|
|Beta (3Y Monthly)||0.70|
|PE Ratio (TTM)||12.39|
|Earnings Date||Apr 30, 2019|
|Forward Dividend & Yield||1.22 (1.83%)|
|1y Target Est||79.00|
How far off is ConocoPhillips (NYSE:COP) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by projecting its future cash flows and then discounting them to today...
In one move, the oil giant reduces costs and brings in more cash, which enhances its already excellent financial position.
U.S. energy group ConocoPhillips has agreed to sell its oil and gas assets in the British North Sea to private equity-backed Chrysaor for $2.68 billion (£2.06 billion), Conoco said on Thursday, making Chrysaor the biggest producer in the region this year. Reuters had reported on Wednesday that Chrysaor and Conoco were close to sealing the deal, citing sources close to the process who put the value of the assets at up to $2.8 billion. The North Sea has undergone a major transformation in recent years, as long-standing producers have sold assets to smaller players such as Chrysaor who say they can squeeze more money out of fields due to their nimbler operations.
Overall, oil is being supported by the OPEC+ deal to cut production by 1.2 million barrels per day. U.S. sanctions against Venezuela and Iran also continue to tighten the commodity's fundamentals.
“This disposition is part of our ongoing effort to hone our portfolio and focus our investments across future low cost of supply opportunities.”
What Helped Your Energy Portfolio Overcome Oil's Weakness?US crude oil moved lower this weekOn April 17, US crude oil June futures fell 0.5% and settled at $63.87 per barrel. Profit-booking and the small decline in the S&P 500 Index (SPY) might
ConocoPhillips announced Thursday a deal to sell two exploration and production subsidiaries in the United Kingdom for $2.68 billion to Chrysaor E&P Ltd., plus interest. The two subsidiaries combined hold ConocoPhillips' E&P assets in the U.K., as well as associated decommissioning liabilities. ConocoPhillips said it will retain its London-based commercial trading business, and its 40.3% interest of the Teesside oil terminal. The company said it will use proceeds from the deal for general corporate purposes. The stock was indicated down less than 0.5% in premarket trade. It has gained 5.5% year to date, while the SPDR Energy Select Sector ETF has rallied 17.7% and the S&P 500 has climbed 15.7%.
ConocoPhillips (COP) today announced it has entered into an agreement to sell two ConocoPhillips United Kingdom (U.K.) subsidiaries to Chrysaor E&P Limited for $2.675 billion, plus interest and customary adjustments. Together, the subsidiaries indirectly hold the company’s exploration and production assets in the U.K., as well as associated decommissioning liabilities. ConocoPhillips will retain its London-based commercial trading business and its 40.25 percent interest in and operatorship of the Teesside oil terminal.
Chrysaor, the private-equity backed UK oil company, has bought the North Sea assets of US energy major ConocoPhillips in a $2.7bn deal that will catapult it into the top ranks of producers in the region. The acquisition of Conoco’s North Sea assets is the biggest in the exploration and production sector outside of the US this year, and will add approximately 72,000 barrels of oil equivalent a day to Chrysaor’s output. Phil Kirk, Chrysaor chief executive, has laid out ambitious plans to become one of the largest producers in the ageing basin since its $3bn deal two years ago to acquire a host of Royal Dutch Shell’s old assets.
Houston-based ConocoPhillips is selling its two UK subsidiaries to private equity-backed Chrysaor E&P Limited for $2.675 billion plus interest.
If you want to know why many analysts expect S&P 500 Q1 earnings to fall, look no further than the Energy sector. When global growth slows, as it did in Q4 and early Q1, the impact can often chip into demand for crude oil, the main Energy sector product. All of this can lower demand for oil, and it appeared to soften crude prices through the first couple months of the year.
Private-equity backed Chrysaor is near a deal to buy U.S. group ConocoPhillips' British North Sea oilfields, two sources close to the process said, a deal that would make it the basin's biggest producer. Britain's ageing North Sea has undergone a major transformation in recent years as long-standing producers have sold assets to smaller players such as Chrysaor that say they can squeeze more money out of fields due to nimbler operations. Chrysaor and Conoco have agreed on the main terms of the acquisition in recent weeks but the deal, expected to be signed in the coming days, could still fall through, the sources said.
What to Expect from ConocoPhillips' Q1 Earnings(Continued from Prior Part)ConocoPhillips On April 12, Morgan Stanley increased its target price for ConocoPhillips (COP) by $5 to $83. On March 21, Simmons changed its rating on ConocoPhillips from
Transition to a more disciplined capital spending approach within the exploration and production space is expected to weigh on Halliburton's (HAL) Q1 results.
What to Expect from ConocoPhillips' Q1 EarningsOil prices and ConocoPhillips’ earnings ConocoPhillips’ (COP) adjusted EPS might fall ~24% in the first quarter on a sequential basis based on analysts’ consensus estimate for an adjusted EPS of
Venezuelan opposition leader Juan Guaido will seek to annul an $8.7 billion arbitration award to U.S. oil producer ConocoPhillips as he moves to preserve foreign assets, Guaido's chief legal representative said on Tuesday. If accepted, the annulment request would halt enforcement of the award over the 2007 loss of Conoco's projects in the South American country. It would follow a March decision by the World Bank's International Centre for Settlement of Investment Disputes (ICSID) to impose the largest arbitration award against Venezuela.
ConocoPhillips' (COP) sale of 30% stake in Greater Sunrise Fields includes interest in Production Sharing Contracts 03-19 and 03-20 and Retention Leases NT/RL2 and NT/RL4.
Has Oil Lost Its Uptrend?US crude oil On April 15, US crude oil prices fell 0.8% and settled at $63.4 per barrel. Profit-booking and concerns about a possible extension of the OPEC and non-OPEC production cut into the second half of 2019 have
Have US Oil Exports Bottomed?Brent-WTI spreadOn April 15, Brent crude oil June futures settled ~$7.78 higher than the WTI crude oil May futures. On April 8, the spread was at ~$6.7—the lowest level for the spread since August 21, 2018.Sign up