Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  ConocoPhillips    COP

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

ConocoPhillips 3rd-Quarter Profit Fell 31% on Spinoff

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/25/2012 | 02:47pm CET
   By Tess Stynes 
 

ConocoPhillips' (>> ConocoPhillips) third-quarter earnings fell 31% during the company's second reporting period as a standalone oil and gas producer amid lower sales and production.

ConocoPhillips is in the midst of a three-year repositioning aimed at improving its balance sheet and making itself more attractive to investors. That plan includes the sale of $15 billion to $20 billion in assets, large-scale share buybacks and the spinoff of its refining arm as Phillips 66 (>> Phillips 66) in May.

Like most other producers, Conoco is turning away from natural gas and toward oil and liquids production in the face of weak natural-gas prices. The company has been increasing production in unconventional oil-rich shale plays such as the Bakken and Eagle Ford.

The latest quarter was also hurt by lower average realized prices for oil and natural gas, which fell 3.7% and 16%, respectively.

ConocoPhillips reported a profit of $1.8 billion, or $1.46 a share, down from $2.62 billion, or $1.91 a share, a year earlier. Excluding items such as asset sale gains, pension settlement expenses and U.K. tax-law-change impacts, adjusted earnings from continuing operations were up at $1.44 from $1.40. The year-earlier period included contributions from discontinued operations of about $1.14 billion.

Sales and other operating revenue decreased 12% to $14.52 billion. Analysts polled by Thomson Reuters most recently projected earnings of $1.19 on revenue of $11.12 billion.

The company reported average production of about 1.525 million barrels of oil equivalent a day, down from 1.538 billion barrels a day a year earlier amid the company's asset sales.

Phillips 66 is set to release its third-quarter earnings report Oct. 31.

Shares closed Wednesday at $55.95 and were inactive premarket. The stock is up 3.8% in the past 12 months, trailing the broader market.

Write to Tess Stynes at tess.stynes@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : ConocoPhillips, Phillips 66
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CONOCOPHILLIPS
02/21 CONOCOPHILLIPS : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND..
02/21DJWoodside Annual Profit Jumps as Production Rises
02/18 CONOCOPHILLIPS : supply of manual ball valve 16inch and 20inch for grissik
02/13 CONOCOPHILLIPS : Lifting Superintendent Service
02/13 CONOCOPHILLIPS : Supply of Air Cooled
02/13 CONOCOPHILLIPS : Is ConocoPhillips a good oil stock to buy this month?
02/11 CONOCOPHILLIPS : Cop) Shares Bought by Rockefeller Financial Services Inc.
02/11 PHILLIPS 66 : Fourth quarter 2016
02/10 CONOCOPHILLIPS : lifting superintendent services for sumatara onshore marine ope..
02/10 EXXON MOBIL : Alaska gas line agency to host $200,000 summit for potential custo..
More news
Sector news : Oil & Gas Exploration and Production - NEC
03:22aDJWoodside Plans to Expand Western Australia LNG Output -- Update
02/21DJOil Search Plans to Step Up Spending, Seeks Acquisition Opportunities
02/21DJWoodside Annual Profit Jumps as Production Rises
02/21DJOil Search Swings Back to Profit
02/21DJWoodside Names Wesfarmers CEO as Next Chairman
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
02/21 ConocoPhillips - Is The Bottom Close?
02/21 ConocoPhillips revises down 1.2B barrels of oil sands reserves
02/16 REUTERS : ConocoPhillips puts Canadian nat gas assets up for sale
02/13 Oil Majors' Plans - No Relief For Offshore Drillers
02/13 Why OPEC's Deal Won't Last And Oil Will Drop To Previous Levels
Advertisement
Financials ($)
Sales 2017 31 706 M
EBIT 2017 2 638 M
Net income 2017 1 016 M
Debt 2017 23 086 M
Yield 2017 2,17%
P/E ratio 2017 66,54
P/E ratio 2018 26,06
EV / Sales 2017 2,61x
EV / Sales 2018 2,35x
Capitalization 59 634 M
More Financials
Chart CONOCOPHILLIPS
Duration : Period :
ConocoPhillips Technical Analysis Chart | COP | US20825C1045 | 4-Traders
Full-screen chart
Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 57,8 $
Spread / Average Target 20%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Ryan M. Lance Chairman & Chief Executive Officer
Donald Evert Wallette CFO, EVP-Finance & Commercial
Matthew J. Fox EVP-Strategy, Exploration & Technology
James E. Copeland Independent Director
Richard H. Auchinleck Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CONOCOPHILLIPS-4.01%59 634
PACIFIC EXPLORATION AN..--.--%135 870
EOG RESOURCES INC-1.61%57 372
CNOOC LTD-1.97%54 389
OCCIDENTAL PETROLEUM C..-5.97%51 185
OIL & NATURAL GAS CORP..2.15%37 609
More Results