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MarketScreener Homepage  >  Equities  >  Nyse  >  ConocoPhillips    COP

CONOCOPHILLIPS

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ConocoPhillips Outlines 10-Year Financial Plan

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11/19/2019 | 09:40am EST

By Michael Dabaie

ConocoPhillips (COP) said it is outlining details of its 2020 to 2029 operating and financial plan at its Analyst & Investor Meeting Tuesday.

The oil and gas company said the 10-year plan includes free cash flow of about $50 billion based on a real West Texas Intermediate price of $50 per barrel and annual capital expenditures averaging less than $7 billion over the decade.

The capital expenditures plan reflects optimized pace of development within each asset, low capital intensity and overall low-declining base production, Conoco said.

ConocoPhillips said it forecasts underlying compound annual production growth averaging over 3%.

The company said its plan projects $30 billion in share buybacks over the 10-year period, representing almost 50% of current market capitalization.

Conoco said planned dividends and repurchases funded from free cash flow over life of the plan represent a combined annual shareholder payout that exceeds its distribution target of more than 30% of cash from operations.

Shares were up 0.7% premarket to $57.10.

Write to Michael Dabaie at michael.dabaie@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CONOCOPHILLIPS -4.52% 53.83 Delayed Quote.-17.22%
LONDON BRENT OIL 0.00% 54.82 Delayed Quote.-13.77%
WTI -0.48% 49.94 Delayed Quote.-12.86%
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Financials (USD)
Sales 2020 32 610 M
EBIT 2020 6 221 M
Net income 2020 3 515 M
Debt 2020 8 680 M
Yield 2020 3,18%
P/E ratio 2020 16,5x
P/E ratio 2021 15,4x
EV / Sales2020 2,05x
EV / Sales2021 2,04x
Capitalization 58 197 M
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Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 74,12  $
Last Close Price 53,83  $
Spread / Highest target 57,9%
Spread / Average Target 37,7%
Spread / Lowest Target 20,8%
EPS Revisions
Managers
NameTitle
Ryan M. Lance Chairman & Chief Executive Officer
Matthew J. Fox Chief Operating Officer & Executive Vice President
Donald Evert Wallette Chief Financial Officer & Executive Vice President
Robert A. Niblock Lead Independent Director
Jody L. Freeman Independent Director
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