Here are Wednesday’s top research calls, including upgrades for Crown Castle and ConocoPhillips, and a downgrade for Urban Outfitters. Earnings estimates were raised for Chevron.
Category: ConocoPhillips
ConocoPhillips CEO Lance: Remain in Eagle Ford Rather than Permian
The Eagle Ford Shale is located in the south of Texas, while the Permian Basin in located in western Texas. ConocoPhillips will stick to production in the Eagle Ford Shale rather than in the Permian Basin, CEO Ryan Lance stated at the CERAWeek in Houston on Tuesday.
ConocoPhillips Reports Smaller Quarterly Loss
ConocoPhillips, the largest U.S. independent oil producer, posted a much smaller quarterly loss from a year earlier, when it recorded a $2.7 billion charge. The company’s net loss narrowed to $35 million, or 3 cents per share, in the fourth quarter, from $3.45 billion, or $2.78 per share.
Will ConocoPhillips Raise Its Dividend in 2017?
Early last year, ConocoPhillips slashed its dividend, doing an about-face after having reassured investors that it remained committed to sustaining its payout. Now that crude oil has rebounded, some hope that ConocoPhillips will be able to return to its upward trajectory with its quarterly dividends.
ConocoPhillips Dividend History: Can the Energy Giant Bounce Back?
The energy industry has gone through huge upheaval over the past couple of years, with oil prices plunging from triple-digit levels to go below the $30 per barrel mark in early 2016 before recovering somewhat. Before then, ConocoPhillips and producing solid dividend yields for its shareholders.