UBS Cuts Price Target as ConocoPhillips (COP) Cuts Dividends and Guidance
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ConocoPhillips Reports Fourth-Quarter and Full-Year 2015 Results; Lowers Quarterly Dividend and Revises 2016 Operating Plan Guidance
February 4, 2016 7:00 AM ESTHOUSTON--(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
