Conoco cuts dividend for first time in 25 years on crude crash

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Go back to Conoco cuts dividend for first time in 25 years on crude crash

UBS Cuts Price Target as ConocoPhillips (COP) Cuts Dividends and Guidance

February 5, 2016 10:00 AM EST

UBS maintained a Neutral rating on ConocoPhillips (NYSE: COP), and cut the price target to $38.00 (from $42.00), following the company's 4Q earnings report. COP cut its quarterly dividend from $0.74/sh to $0.25/sh, implying a dividend yield of ~2.8% (vs. ~7.9% prior). COP also further reduced its 2016... More