November 10, 2017 - 7:10 AM EST
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Featured Company News - ConocoPhillips Unveils Framework of its Operating Plan and Strategy for 2018-2020

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LONDON, UK / ACCESSWIRE / November 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for ConocoPhillips (NYSE: COP), following which we have published a free report that can be viewed by signing up at The Company announced on November 08, 2017, its operating plan and strategy (OPS) for next three years 2018-2020. The focus and goal of the OPS is long-term value creation while maintaining financial discipline and focus on increasing shareholders returns. With an aim to reach its set goals, the Company has agreed to limit its annual capital expenditures to $5.5 billion till such time that the oil prices remain above $50 per barrel. The Company expects to maintain a strong performance in the coming years if it follows the OPS. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Some of the goals it has set for itself include the following:

  • The Company is aiming for over 20% cash return on capital employed (CROCE) by FY20;
  • It is decided to set the breakeven price at less than a $40-per-barrel;
  • The Company aims to payout more than 30% as annual shareholders returns from cash flows generated from operations, either by way of dividend or via share buybacks;
  • The Company is extending the current share buyback program of $1.5 billion per year till FY20. This translates to total share buybacks of $7.5 billion within next three years;
  • The Company aims to reduce its overall debt to $15 billion in FY19;
  • The result of the extension of the share buyback and the reduction in debt would represent a 20% decrease in debt-adjusted share count by end of FY20;
  • The Company is aiming for approximately 5% underlying production CAGR and 5+% cash margins CAGR which would result in more than a 10% cash flow CAGR;
  • The Company is basing its entire calculations and improved financial returns from 15 billion barrels of oil equivalent with an average cost of supply of less than $35 per barrel;
  • The Company has also reiterated its commitments to sustainability and aims to reduce its greenhouse gas emissions intensity by 5% to 15% by FY30.

Commenting on the Company's OPS, Ryan Lance, Chairman and CEO of ConocoPhillips, said:

"During 2017, we significantly transformed ConocoPhillips to succeed across a range of commodity prices. Through accretive asset sales and an ongoing focus on capital and cost efficiency, we've lowered the capital intensity and sustaining price of the Company, reduced the cost of supply of our investment portfolio, substantially strengthened our balance sheet and returned a significant portion of cash flow to our owners. We believe we're uniquely positioned to generate free cash flow, deliver top-tier distributions to shareholders and improve financial returns, while executing the business in a safe, socially and environmentally responsible manner. We want to be the Company that can attract and retain capital to this sector by offering superior returns to shareholders through cycles. Today, we will provide a clear, measurable plan to achieve this goal."

About ConocoPhillips

Houston, Texas, ConocoPhillips is the world's largest independent exploration and production Company, based on proved reserves and production of liquids and natural gas. The Company has total assets of $75 billion, proved reserves of over 6.4 billion BOE as on December 31, 2016, and its production for the nine-month period ending on September 30, 2017, was approximately 1,403 MBOED. The Company's operations are spread over 17 countries and is supported by a global team of around 11,600 employees.

Last Close Stock Review

At the closing bell, on Thursday, November 09, 2017, ConocoPhillips' stock marginally climbed 0.02%, ending the trading session at $53.53. A total volume of 6.70 million shares have exchanged hands, which was higher than the 3-month average volume of 6.02 million shares. The Company's stock price surged 19.51% in the last three months, 13.97% in the past six months, and 17.06% in the previous twelve months. Moreover, the stock gained 6.76% since the start of the year. The stock has a dividend yield of 1.98% and currently has a market cap of $64.90 billion.

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Source: ACCESSWIRE Investor Awareness (November 10, 2017 - 7:10 AM EST)

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