COP stock pitch - 2024-03-06
ConocoPhillips plans to return $9 billion to shareholders in 2024. The company's adjusted Q4 EPS was $2.40 vs $2.71, with revenue down 21% to $14.7B. For 2024, production is expected to be between 1.91-1.95 MMBOE/d with a capex of $11-11.5B. Argus has reaffirmed their Buy rating and a $150 price target, citing disciplined investment, strong free cash flow, and shareholder returns through dividend growth and buybacks.
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