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

Delayed Quote. Delayed  - 10/19 10:00:37 pm
49.71 USD   --.--%
10/19 Schlumberger's latest asset deal raises fresh concerns ahead of t..
10/19DJCenovus Continues Shedding Assets to Pay Down Debt
10/13 CONOCOPHILLIPS : ex-dividend day
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 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
10/19 Schlumberger's latest asset deal raises fresh concerns ahead of third quarter
10/19DJCenovus Continues Shedding Assets to Pay Down Debt
10/15 CONOCOPHILLIPS : Receives Consent to Use West Elara at Ekofisk
10/13 CONOCOPHILLIPS : ex-dividend day
10/09 CONOCOPHILLIPS (NYSE : COP) Files An 8-K Departure of Directors or Certain Offic..
10/09 CONOCOPHILLIPS (NYSE : COP) Files An 8-K Other Events
10/06 DAILY DIVIDEND REPORT : Cop, oxy, csx, zts, hsy, see
10/06 CONOCOPHILLIPS : Other Events, Financial Statements and Exhibits (form 8-K)
10/06 CONOCOPHILLIPS : Announces Quarterly Dividend
10/06 CONOCOPHILLIPS : Change in Directors or Principal Officers, Regulation FD Disclo..
More news
News from SeekingAlpha
10/18 ConocoPhillips - How High Can It Go?
10/18 Anardako Petroleum - A Good Opportunity, But Only With Oil Above $60
10/17 APACHE CORP. : Better Than It Sounds
10/12 Diamondback - The Best Shale Oil E&P Is Coiled And Ready To Strike Higher
10/10 Total, Statoil, Eni reportedly seek buyers for North Sea Teesside terminal
Financials ($)
Sales 2017 29 305 M
EBIT 2017 1 247 M
Net income 2017 -1 972 M
Debt 2017 13 108 M
Yield 2017 2,14%
P/E ratio 2017 -
P/E ratio 2018 43,73
EV / Sales 2017 2,51x
EV / Sales 2018 2,60x
Capitalization 60 495 M
Chart CONOCOPHILLIPS
Duration : Period :
ConocoPhillips Technical Analysis Chart | COP | US20825C1045 | 4-Traders
Technical analysis trends CONOCOPHILLIPS
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 51,7 $
Spread / Average Target 4,1%
EPS Revisions
Managers
NameTitle
Ryan M. Lance Chairman & Chief Executive Officer
Donald Evert Wallette CFO, Executive VP-Finance & Commercial
Matthew J. Fox EVP-Strategy, Exploration & Technology
James E. Copeland Independent Director
Richard H. Auchinleck Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CONOCOPHILLIPS-0.86%60 495
CNOOC LTD3.63%58 046
EOG RESOURCES INC-4.39%55 816
OCCIDENTAL PETROLEUM CORPORATION-9.27%49 414
CANADIAN NATURAL RESOURCES LIMITED-3.84%40 339
WILLIAMS PARTNERS LP1.45%37 543