- ConocoPhillips (COP +2.2%) wins some love from RBC analysts who say the company plans to return 20%-30% of operating cash flow to shareholders, in addition to dividends and share buybacks, as it seeks to "put money into shareholders' pockets."
- RBC estimates that the current dividend alone would reach the target in 2016. but for 2017 at its forecast $59/bbl oil, COP has more room for options; the firm expects a ~4% dividend increase with capacity for a $500M share buyback.
- RBC also notes that COP has a significant and highly economic medium-cycle project inventory that it believes the market "does not quite appreciate, such as CD5 in Alaska."