Scotia Howard Weil Downgrades ConocoPhillips (COP) to Sector Perform

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Go back to Scotia Howard Weil Downgrades ConocoPhillips (COP) to Sector Perform

ConocoPhillips Reports Fourth-Quarter and Full-Year 2015 Results; Lowers Quarterly Dividend and Revises 2016 Operating Plan Guidance

February 4, 2016 7:00 AM EST

HOUSTON--(BUSINESS WIRE)-- ConocoPhillips (NYSE: COP) today announced it is taking actions to maintain its strong balance sheet in response to both the weak outlook for commodity prices and expected credit tightening across the industry. The actions will position the company to accelerate shareholder value creation as prices recover.

Dividend and Operating Plan Actions

The company announced that its board of directors approved a reduction in the companys quarterly dividend to 25 cents per share, compared with the previous quarterly dividend of 74 cents per share. The... More