All articles tagged with #conocophillips
ConocoPhillips plans to cut 20-25% of its workforce as part of a restructuring due to falling oil prices and rising costs, with most layoffs expected by year-end, leading to a decline in its share price.
ConocoPhillips plans to cut up to 25% of its workforce by the end of 2025 as part of efficiency measures, leading to a 4.4% drop in its stock price amid broader industry cost-cutting and OPEC+ production considerations.
ConocoPhillips plans to lay off up to 25% of its global workforce, approximately 3,250 employees, as part of cost-cutting measures amid ongoing challenges in the oil market.
ConocoPhillips plans to cut up to 25% of its staff due to declining oil prices, reflecting challenges in the energy sector.
Top Wall Street analysts recommend dividend stocks like Home Depot, Diamondback Energy, and ConocoPhillips for investors seeking consistent returns, highlighting their financial stability, dividend yields, and growth prospects despite market volatility.
Oil prices are under pressure despite expectations of an OPEC+ deal extension, with Memorial Day failing to boost fuel demand and Brent futures facing another weekly loss. Key developments include ConocoPhillips' acquisition of Marathon Oil, Saudi Aramco's partial stake sale, and a US investigation into alleged OPEC collusion.
Rising Treasury yields negatively impacted major stock indexes, with the Dow Jones falling the most. Salesforce shares dropped over 15% in premarket trading due to weaker-than-expected revenue. ConocoPhillips announced a $17 billion acquisition of Marathon Oil, expanding its shale field assets. Abercrombie & Fitch reported its strongest first quarter ever, with sales and profits significantly exceeding expectations. Nelson Peltz sold all his Disney stock, making about $1 billion after losing a proxy battle last month.
Chevron is acquiring Hess for $53 billion, and ConocoPhillips is buying Marathon Oil for $22.5 billion, as consolidation in the oil sector continues amid high crude prices. These deals are expected to significantly boost the sales and portfolios of both Chevron and ConocoPhillips, though they still require regulatory approvals.
ConocoPhillips announced a $22.5 billion all-stock acquisition of Marathon Oil, including $5.4 billion in debt. Marathon Oil shareholders will receive a 14.7% premium on their shares. The deal, expected to close in Q4, will enhance Conoco's shale assets and increase its market capitalization to over $150 billion. ConocoPhillips plans to boost its dividend and repurchase more than $20 billion in shares over the next three years. Marathon Oil stock rose 8.5%, while ConocoPhillips shares fell 3% following the announcement.
ConocoPhillips has agreed to acquire Marathon Oil for $22.5 billion in an all-stock deal, marking the latest major consolidation in the U.S. energy sector. The acquisition, expected to close in Q4 2024, will add over 2 billion barrels of reserves to ConocoPhillips' portfolio and is anticipated to generate $500 million in cost savings within the first year. The deal follows other significant mergers in the industry and has raised some antitrust concerns, although the FTC views the impact on the global market as minimal.
ConocoPhillips is acquiring Marathon Oil in an all-stock deal valued at $17.1 billion, or $22.5 billion including debt, amid rising energy prices. The acquisition, expected to close in the fourth quarter, will add valuable acreage to ConocoPhillips' U.S. onshore portfolio. The deal follows a trend of mergers in the energy sector, though it may face antitrust scrutiny from U.S. regulators. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips stock for each share they own. ConocoPhillips plans to increase its dividend and repurchase shares post-acquisition.
Shareholders of Hess have approved its $53 billion sale to Chevron, pending regulatory approval and arbitration with ExxonMobil. ConocoPhillips is set to acquire Marathon Oil in a $17.1 billion all-stock deal, expanding its domestic footprint. Both deals signify major consolidations in the energy sector.
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $22.5 billion, including $5.4 billion of debt. Marathon shareholders will receive 0.255 ConocoPhillips shares per Marathon share, a 14.7% premium. The merger is part of a broader trend of consolidation in the oil industry, with major companies like ExxonMobil and Chevron also making significant acquisitions. The deal is expected to close in the fourth quarter of 2024, pending shareholder and regulatory approval.
ConocoPhillips has agreed to acquire Marathon Oil in a deal valued at $22.5 billion, marking a significant consolidation in the energy sector.
ConocoPhillips is acquiring Marathon Oil in an all-stock deal valued at $17.1 billion, or $22.5 billion including debt, amid rising energy prices. The transaction, expected to close in the fourth quarter, will add valuable acreage to ConocoPhillips' U.S. onshore portfolio. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips stock per Marathon share. The deal follows a trend of major oil company mergers and could face regulatory scrutiny. ConocoPhillips also plans to increase its dividend and repurchase over $20 billion in shares within three years.