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 Gives Glimpse Of Last Quarter Before Split

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/05/2012 | 05:13pm CEST

--Conoco's preliminary first-quarter production was 1.62 million barrels of oil equivalent a day

--Company spent $1.9 billion in share repurchases in first quarter

--Refining segment results could be affected by weaker margins

(Adds analyst comment and information about share repurchases in 6th and 7th paragraphs)

By Tess Stynes and Isabel Ordonez

Of

HOUSTON (DOW JONES)--ConocoPhillips (>> ConocoPhillips) said Thursday its preliminary first-quarter average production was about 1.62 million barrels of oil equivalent a day, in line with expectations, and that its refining operations could be affected by weaker profit margins.

The information was part of an interim operational update the company released ahead of the split of its refining business, to be called Phillips 66, expected by the end of the month.

ConocoPhillips said it expects its refining operations to see mostly improved crack spreads, though the segments results are expected to be negatively affected by weaker spreads between crudes, among other things.

At its chemicals and midstream business, the company projects improved results, mostly on higher ethylene margins, which it said were among the highest in the past 20 years. Higher natural-gas liquids are expected to boost its midstream results.

ConocoPhillips said it expects to post an after tax write-down of about $525 million related to a pipeline and gathering-system project with three other energy companies in northern Canada as its co-ventures decided to suspend funding amid deteriorating market conditions.

The cancellation of the project, in which Exxon Mobil Corp. (XOM), Royal Dutch Shell PLC (RDSA) and Imperial Oil are also partners, was not a surprise because the vast new resources of shale gas in the U.S. have made other sources of gas unattractive and too expensive, said Mornigstar analyst Allan Good.

Conoco also said it spent $1.9 billion in share repurchases in the first quarter.

The company also anticipates an after-tax gain of about $940 million related to the recent sale of its Vietnam business, part of a broader asset-sale plan that aimed to raise $10 billion last year. The company said other asset sales in the North Sea and North America are set to close in the current quarter and third quarter.

Conoco expects to make a final decision on the second train of its Australia Pacific LNG Project in the current quarter, and expects to post a second-quarter after-tax loss of about $135 million related to the resulting dilution of interest.

Conoco expects to release first-quarter financial results on April 23.

-By Tess Stynes and Isabel Ordonez,Dow Jones Newswires; 212-416-2481;[email protected]

Stocks mentioned in the article : ConocoPhillips
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CONOCOPHILLIPS
06/22 Canada's Cenovus facing tough market for critical asset sales
06/21 FAR : files for arbitration
06/21 CONOCOPHILLIPS : Cenovus plans to grow free funds flow 14% a year through 2021
06/21 Norway offers record number of blocks for Arctic oil exploration
06/21 CONOCOPHILLIPS : provision of wireline logging and perforation services
06/19 CONOCOPHILLIPS : global positioning system (gps) rental and maintenance services
06/19 CONOCOPHILLIPS : rental and maintenance of adapt and network device refreshment
06/08 CONOCOPHILLIPS : valve maintenance and repair services
06/08DJWoodside Warns Dispute Could Delay Senegal Oil Project
06/06 Exxon says Qatar LNG not affected by Arab states tension
More news
Sector news : Oil & Gas Exploration and Production - NEC
06/22 Canada's Cenovus facing tough market for critical asset sales
06/21 Norway offers record number of blocks for Arctic oil exploration
06/19 EQT : Oil and gas producer EQT to buy Rice Energy in $6.7 billion deal
06/13DJCorrection to Energy Companies Story
06/13DJEnergy Companies Seek Out Deal Makers
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
06/22 ConocoPhillips has 'transformed its business' but still not a buy, Goldman sa..
06/21 Oil - Don't Miss The Forest For The Trees
06/20 CENOVUS ENERGY :  Misplaced Market Fears About A Bargain Acquisition
06/20 Will You Buy When There Is Blood In The Streets?
06/20 Energy sector on track for worst one-day drop since March
Advertisement
Financials ($)
Sales 2017 29 036 M
EBIT 2017 2 019 M
Net income 2017 1 352 M
Debt 2017 12 629 M
Yield 2017 2,37%
P/E ratio 2017 42,69
P/E ratio 2018 25,88
EV / Sales 2017 2,35x
EV / Sales 2018 2,28x
Capitalization 55 608 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
TrendsNeutralBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 59,7 $
Spread / Average Target 33%
Consensus details
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
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CONOCOPHILLIPS-10.35%56 684
EOG RESOURCES INC-13.83%50 713
CNOOC LTD-11.61%49 264
OCCIDENTAL PETROLEUM C..-14.68%46 464
WILLIAMS PARTNERS LP-2.68%35 808
CANADIAN NATURAL RESOU..-12.34%33 867
More Results