ConocoPhillips (NYSE:COP) Completes Its Planned 2016 Asset Dispositions- BioScrip (NASDAQ:BIOS)

Several matter pinch shares of ConocoPhillips (NYSE:COP) [Trend Analysis], as shares plunging -0.70% to $51.13 with a share volume of 486099. ConocoPhillips (COP) said that it has completed its planned 2016 asset dispositions. The proceeds from these dispositions are being used for debt reduction, share repurchases and general corporate purposes.The company generated about $1.3 billion of proceeds from asset dispositions in 2016.

Approximately $0.8 billion of these proceeds will be recorded in the fourth quarter, primarily reflecting the sale of the company’s interests in Senegal and the Indonesia Block B PSC through sales of shares, as well as its interest in assets in the North Cook Inlet and Minnesota iron ore properties.The 2016 production associated with the asset dispositions is 27 thousand barrels of oil equivalent per day (MBOED).

Production guidance for 2016 remains unchanged at 1,560 to 1,570 MBOED. Production in 2017, excluding Libya, is expected to range from flat to 2 percent growth compared with 2016 when adjusted for the full-year impact of the 2016 dispositions. The stock is going forward its 52-week low with 67.67% and moving down from its 52-week high price with -3.78%. To have technical analysis views, liquidity ratio of a company was calculated 1.30 as evaluated with its debt to equity ratio of 0.79. The float short ratio was 1.32%, as compared to sentiment indicator; Short Ratio was 1.94.

BioScrip,  (NASDAQ:BIOS) [Trend Analysis] luring active investment momentum, shares a gain 3.70% to $1.12. BioScrip,  (BIOS) reported that it has introduced a proposed Amendment to its Credit Contract intended to amend the original Credit Contract, dated July 31, 2013, among BioScrip, the guarantors, SunTrust Bank as administrative agent, and a syndicate of lenders.

The proposed Amendment would reduce the restrictive debt leverage covenant in the Credit Contract for the next seven quarters, which is anticipated to allow the Company to be prospectively compliant for the next year and half. The proposed Amendment restructures the existing revolving credit facility, providing BioScrip with immediate access to $15 million in incremental liquidity.

Under the proposed terms of the Amendment, the loan maturity of July 31, 2018 would remain unchanged. The total volume of 176987 shares held in the session was surprisingly higher than its average volume of 1256.37 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at -108.20%, and looking further price to next year’s EPS is 64.10%. While take a short look on price to sales ratio, that was 0.13.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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