Trader makes huge bet on energy rebound Despite the seemingly never-ending saga of low oil, one trader placed a big bet that one area of the energy market could make a major comeback.
| By: Amanda Diaz
UPDATE 1-Cenovus Energy cuts dividend, 2016 budget, jobs again The company, which has been cutting costs in response to a more than 70 percent fall in oil prices since June 2014, said it would lower spending at its Foster Creek and Christina Lake oil sands projects in Alberta, which its operates along with ConocoPhillips. Cenovus on Thursday cut its 2016 capital spending for the second time, this time by C $200- C $300 million to C...
As Big Oil shrinks, boards plot different paths out of crisis *Britain's BP bets on Egyptian gas, Shell on major acquisition. LONDON/ HOUSTON, Feb 7- As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Britain's BP is betting on offshore gas in Egypt, while Royal Dutch Shell has opted for an alternative route...
| By: Ron Bousso and Terry Wade
Hess stock buyback folly Hess is selling 25 million shares at a discounted $39 after acquiring nearly 63 million at the end of 2014 at an average price of $83.
| By: Kevin Allison
Never seen more value traps in market: Advisor Financial advisor Mitch Goldberg sees a big problem: too much cash, and too few good ideas for where to invest it in the stock market.
| By: Mitch Goldberg, president of ClientFirst Strategy
Avoiding 'dividend traps' Sarah Hunt, Alpine Funds, discusses ConocoPhillips and how to avoid dividend traps when investing in a dividend paying stock.
Investors, analysts pan ConocoPhillip's decision to slash payout HOUSTON, Feb 4- When it split off its Phillips 66 refining arm in 2012, ConocoPhillips said a rich and growing dividend payout would entice investors and set it apart from other exploration and production companies that typically offered lower shareholder returns. So on Thursday, when Conoco said it was slashing its payout for the first time in 25 years due to...
| By: Anna Driver