ConocoPhillips Co. is one of the largest independent oil and gas exploration and production (E&P) companies in the world, COP spun off its downstream assets in May 2012. On July 31st, COP reported second quarter 2014 adjusted earnings of $1.61 per share, up 14.2% from the year-earlier profit of $1.41. The year-over-year growth was mainly attributable to higher realized prices and volumes, partially offset by higher depreciation and operating costs.
COP has made significant acquisitions over the past few years to increase its reserves and production capacity. The company expects to deliver 3%-5% production growth in 2014, and expects to replace reserves and sustain production growth over the long term with its stated capital program of $16 billion per year ($16.7 billion in 2014). About 60% of these capital expenditures are slated for North America liquids-rich properties. For now, I will...
Source: Seeking Alpha
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Dividend Stock Analysis: Is It Time To Buy ConocoPhillips?
Posted by D4L | Tuesday, August 26, 2014 | ArticleLinks | 0 comments »________________________________________________________________
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