ConocoPhillips' Willow project likely on ice until January after court order

  • The U.S. Ninth Circuit Court of Appeals has extended its emergency order blocking construction of ConocoPhillips ' (NYSE:COP) $2B-plus Willow oil development project in Alaska, putting on hold plans for one of the biggest oil projects in North Slope history.
  • In a weekend order, the court sided with environmental and Native plaintiffs who challenged the Trump administration's October approval of the project, agreeing ConocoPhillips ' winter gravel mining and gravel road building for the project would cause irreparable environmental harm.
  • An Alaska-based federal judge issued an order last week barring construction activities, and the new ruling leaving that injunction in place means further arguments will be held in the case, but likely not until late April, at the earliest.
  • The injunction bars ConocoPhillips from conducting winter gravel mining and gravel road building for the project while the lawsuit is ongoing.
  • Because most North Slope oilfield construction is limited to winter, the injunction likely prevents construction until at least January, according to an attorney with Trustees for Alaska, the environmental law firm representing the plaintiffs.

    ConocoPhilips fundamentals

    For this year the company from Houston could earn a total revenue around 30.43 billion USD. This is according to the average of the analysts' estimates. This is rather significant more than 2019's revenue of 18.78 billion USD.

    Historical revenues and results ConocoPhillips plus estimates 2020

    koersgrafieken

    The analysts expect for 2020 a net profit of 1.79 billion USD. The majority of the analysts expects for this year a profit per share of 1.55 USD. Based on this the price/earnings-ratio is 31.85.

    Huge dividend ConocoPhillips

    Per share the analysts expect a dividend of 1.74 USD per share. Thus the dividend yield equals 3.53 percent. The average dividend yield of the energy companies is a limited 0.76 percent.

    Based on the current number of outstanding shares ConocoPhillips 's market capitalization 53.55 billion USD. The ConocoPhillips stock was the past 12 months quite volatile. Since last February the stock is 13 percent lower. This year the stock price moved between 21 and 60 dollar.

    Historical stock prices ConocoPhillips2007-2020

    equity research conocophillips

    Click here for dividend ConocoPhillips. At 21.02 the stock trades 3 percent lower at 49.36 USD.

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