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MarketScreener Homepage  >  Equities  >  Nyse  >  ConocoPhillips    COP

CONOCOPHILLIPS

(COP)
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CONOCOPHILLIPS : Other Events, Financial Statements and Exhibits (form 8-K)

11/16/2020 | 11:33am EST
Item 8.01 Other Events.
ConocoPhillips (the

"Company") is

recasting certain financial

information included

in its 2019
Annual Report on Form 10-K

(the "Form 10-K") which was initially filed with the Securities and Exchange Commission ("SEC") on February 18, 2020, to reflect a realignment of the Company's segments. The Company managed

operations through six operating

segments, which are primarily
defined by

geographic region,

and were

previously named

the following:

Alaska; Lower

48;

Canada; Europe and North Africa;

Asia Pacific and Middle East; and Other International.

Effective with

the third

quarter of

2020, the

Company has

restructured segments

to align

with
changes within its

internal organization.

The Middle East

business was realigned

from the

Asia
Pacific and

Middle East segment

to the

Europe and

North Africa segment.

The segments have
been renamed the Asia Pacific segment and the Europe, Middle East and North
Africa segment.
Attached as Exhibit

99.1 of

this Current

Report on Form

8-K are the

following portions

of the
Form 10-K which

were revised to

reflect this realignment

in segments: Business

and Properties
(Items 1

and 2), Management's

Discussion and Analysis

of Financial

Condition and

Results of
Operations (Item 7),

Financial Statements and

Supplementary Data (Item

8), and Exhibit,

Financial
Statement Schedules

(Item 15).

The change

in segments

did not

impact previously

reported
consolidated net

income (loss),

net income

(loss) attributable to

ConocoPhillips, or net

income
(loss) attributable to

ConocoPhillips per share

of common stock.

The segment-specific information
presented in

exhibit 99.1

is consistent

with the

presentation of

segments in

the Company's
Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020,
filed with the
SEC on November 3, 2020.
This Current Report on Form 8-K is being filed only for the purposes described
above and all
other information in the Form 10-K

remains unchanged. In order to preserve the nature and
character of the disclosures set forth in the Form 10-K, the items included in
Exhibit 99.1 of this
Current Report on Form 8-K have been updated solely for matters relating
specifically to the
segment realignment and related classifications as described above. No attempt
has been made in
this Current Report on Form 8-K to reflect events or occurrences after the date
of the filing of the
Form 10-K, on February 18, 2020, and it should not be read to modify or update
other
disclosures as presented in the Form 10-K. Therefore, this Current Report on
Form 8-K should
be read in conjunction with the Form 10-K and the Company's filings made with
the SEC
subsequent to the filing of the Form 10-K, including the Company's Quarterly
Reports on Form
10-Q

for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020.

These

subsequent SEC filings contain important information regarding events, risks,
developments and
updates affecting the Company and its expectations that have occurred since the
filing of the
Form 10-K.

The revised portions of the Form 10-K described above are attached as Exhibit 99.1 hereto and incorporated herein by reference.


References in the attached exhibits to the Form 10-
K or parts thereof refer to the Form 10-K for the year ended December 31, 2019,
filed on
February 18, 2020, except to the extent portions of such Form 10-K have been
revised in this
Current Report on Form 8-K, in which case, they refer to the applicable revised
portion in this


3

Current Report on Form 8-K. The information contained herein is not an amendment to, or a restatement of, the Form 10-K.





4

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits
Exhibit No.

Description
23.1*

Consent of Ernst & Young LLP.

23.2*

Consent of DeGolyer and MacNaughton.

99.1*

  Items from ConocoPhillips Annual Report on Form 10-K for the year
  ended December 31, 2019, revised to reflect recast segment information:
  Business and Properties (Items 1 and 2), Management's Discussion and
  Analysis of Financial Condition and Results of Operations (Item 7),

  Financial Statements and Supplementary Data (Item 8), and Exhibits,
  Financial Statement Schedules (Item 15).

99.2*

Report of DeGolyer and MacNaughton.

101.INS**

Inline XBRL Instance Document.

101.SCH**

Inline

XBRL Schema Document.

101.CAL**

Inline XBRL Calculation Linkbase Document.

101.DEF**

Inline XBRL Definition Linkbase Document.

101.LAB**

Inline XBRL Labels Linkbase Document.

101.PRE**


Inline XBRL Presentation Linkbase Document.
104*

Cover Page

Interactive Data

File (formatted

as Inline

XBRL and

filed
herewith).
* Filed herewith
** These interactive data files are furnished and deemed not filed or part of a
registration
statement or prospectus for purposes of Sections 11 or 12 of the Securities Act
of 1933, as
amended, are deemed not filed for purposes of Section 18 of the Securities
Exchange Act of
1934, as amended, and otherwise are not subject to liability under those
sections.




5

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 18 435 M - -
Net income 2020 -2 112 M - -
Net Debt 2020 10 120 M - -
P/E ratio 2020 -22,8x
Yield 2020 3,92%
Capitalization 58 390 M 58 390 M -
EV / Sales 2020 3,72x
EV / Sales 2021 2,92x
Nbr of Employees 9 800
Free-Float 59,5%
Chart CONOCOPHILLIPS
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ConocoPhillips Technical Analysis Chart | COP | US20825C1045 | MarketScreener
Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 53,58 $
Last Close Price 43,19 $
Spread / Highest target 43,6%
Spread / Average Target 24,0%
Spread / Lowest Target 1,88%
EPS Revisions
Managers and Directors
NameTitle
Ryan M. Lance Chairman & Chief Executive Officer
Matthew J. Fox Chief Operating Officer & Executive Vice President
William L. Bullock Chief Financial Officer & Executive Vice President
Dominic E. Macklon SVP-Strategy, Exploration & Technology
Robert A. Niblock Lead Independent Director
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