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

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensus 
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 CEST
   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 [email protected]

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
04/26 CENOVUS ENERGY : first-quarter profit overshadowed by ConocoPhillips concerns
04/25 CONOCOPHILLIPS : Cenovus shareholder seeks to halt purchase of ConocoPhillips as..
04/22 EXXON MOBIL : Oil companies owe $194M in 2010 tax and interest, state says
04/21 TSX ends lower as banks weigh, energy shrugs off oil fall
04/21 CONOCOPHILLIPS : Cenovus plans to accelerate drilling on acquired ConocoPhillips..
04/20 CONOCOPHILLIPS : Findings on Sedimentary Geology Detailed by Investigators at Co..
04/20 CONOCOPHILLIPS : Weighs Developing New Gas Fields to Feed Darwin LNG Expansion
04/19 CONOCOPHILLIPS : construction of road and right of way (row) maintenance service..
04/19 CONOCOPHILLIPS : provision of drilling string and octg inspection services
04/19 CONOCOPHILLIPS : supply of safety equipment and services
More news
Sector news : Oil & Gas Exploration and Production - NEC
04/25 TSX posts two-month high as energy, lumber shares rally
04/25 CANADIAN NATURAL RESOURCES : Inter Pipeline says Alberta crude oil leak came fro..
04/20DJWoodside Quarterly Revenue Dented by Storms, Rainfall
04/19 TSX falls as oil slide hits energy stocks
04/19DJConocoPhillips Considers Expansion of Australian Gas-Export Operation
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
04/26 CONOCOPHILLIPS : Beware Of Risks
04/26 Exxon-Conoco JV Golden Pass LNG approved for natural gas export
04/26 ConocoPhillips Earnings Preview
04/25 5 YEARS IN SEEKING ALPHA'S 'DGI FUN : Mistakes Made, Lessons Learned - And Triu..
04/25 Ensco Bags Big Contract With ConocoPhillips
Advertisement
Financials ($)
Sales 2017 29 147 M
EBIT 2017 2 089 M
Net income 2017 876 M
Debt 2017 13 336 M
Yield 2017 2,13%
P/E ratio 2017 71,87
P/E ratio 2018 26,48
EV / Sales 2017 2,53x
EV / Sales 2018 2,49x
Capitalization 60 356 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
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 60,1 $
Spread / Average Target 23%
Consensus details
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-4.45%60 356
EOG RESOURCES INC-5.77%54 986
CNOOC LTD-6.42%52 106
OCCIDENTAL PETROLEUM C..-12.26%47 786
WILLIAMS PARTNERS LP7.34%40 427
CANADIAN NATURAL RESOU..5.52%37 149
More Results