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4-Traders Homepage  >  Equities  >  Nyse  >  ConocoPhillips    COP

CONOCOPHILLIPS (COP)
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Delayed Quote. Delayed  - 07/20 10:02:06 pm
70.01 USD   +0.87%
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ConocoPhillips : to Increase 2018 Buyback by 50% to $3 Billion

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07/12/2018 | 03:35pm CEST

By Waverly Colville

ConocoPhillips (COP) is boosting its 2018 buyback program by 50% to $3 billion in cash, the company announced Thursday.

The board increased the buyback authorization by $9 billion, bringing the total authorization to $15 billion. The initial $6 billion limit is set to be maxed out, given the buyback expansion and $3 billion of repurchased in 2016 and 2017.

The company estimates that the $15 billion authorization represents about 20% of the shares outstanding as of Sept. 30, 2016, based shares already bought back and future buybacks based on the current stock price.

The Houston-based energy company started repurchasing shares in late 2016. Chairman and Chief Executive Ryan Lance said in prepared remarks that the expanded buyback program is a signal the company sees upside potential in its shares.

ConocoPhillips also said it has paid off $2.1 billion of debt during the second quarter, reaching its goal of $15 billion in debt much earlier than its late 2019 forecast.

Shares were up 1.4% during pretrading Thursday.

Write to Waverly Colville at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
CONOCOPHILLIPS 0.87% 70.01 Delayed Quote.27.55%
WTI 0.00% 68.11 Delayed Quote.14.66%
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Financials ($)
Sales 2018 39 180 M
EBIT 2018 9 000 M
Net income 2018 4 768 M
Debt 2018 10 637 M
Yield 2018 1,63%
P/E ratio 2018 17,17
P/E ratio 2019 15,08
EV / Sales 2018 2,35x
EV / Sales 2019 2,23x
Capitalization 81 542 M
Chart CONOCOPHILLIPS
Duration : Period :
ConocoPhillips Technical Analysis Chart | COP | US20825C1045 | 4-Traders
Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 78,2 $
Spread / Average Target 12%
EPS Revisions
Managers
NameTitle
Ryan M. Lance Chairman & Chief Executive Officer
Donald Evert Wallette CFO, Executive VP-Finance & Commercial
Matthew J. Fox EVP-Strategy, Exploration & Technology
Richard Lee Armitage Independent Director
Harald Johan Norvik Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CONOCOPHILLIPS27.55%81 542
EOG RESOURCES13.38%70 847
CNOOC LTD9.98%70 005
OCCIDENTAL PETROLEUM CORPORATION12.79%63 544
CANADIAN NATURAL RESOURCES LIMITED4.47%42 996
WILLIAMS PARTNERS LP11.71%42 256