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
04/28 CONOCOPHILLIPS : drilling string and octg inspection services
04/28 CONOCOPHILLIPS : suppy of ppe-headwear And gloves
04/28DJOrigin Quarterly Revenue Rises but Output Slips
04/27 CONOCOPHILLIPS : Cenovus faces investor displeasure after ConocoPhillips deal
04/25 CONOCOPHILLIPS : Cenovus shareholder seeks to halt purchase of ConocoPhillips as..
04/22 EXXON MOBIL : Oil companies owe $194M in 2010 tax and interest, state says
04/21 TSX ends lower as banks weigh, energy shrugs off oil fall
04/21 CONOCOPHILLIPS : Cenovus plans to accelerate drilling on acquired ConocoPhillips..
04/20 CONOCOPHILLIPS : Findings on Sedimentary Geology Detailed by Investigators at Co..
04/20 CONOCOPHILLIPS : Weighs Developing New Gas Fields to Feed Darwin LNG Expansion
More news
Sector news : Oil & Gas Exploration and Production - NEC
04/27 CRESCENT POINT ENERGY : posts surprise quarterly profit
04/27DJCNOOC : 1Q Revenue Rose 55.8% on Year to CNY38.39 billion
04/25 TSX posts two-month high as energy, lumber shares rally
04/25 CANADIAN NATURAL RESOURCES : Inter Pipeline says Alberta crude oil leak came fro..
04/20DJWoodside Quarterly Revenue Dented by Storms, Rainfall
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
04/26 CONOCOPHILLIPS : Beware Of Risks
04/26 Exxon-Conoco JV Golden Pass LNG approved for natural gas export
04/26 ConocoPhillips Earnings Preview
04/25 5 YEARS IN SEEKING ALPHA'S 'DGI FUN : Mistakes Made, Lessons Learned - And Triu..
04/25 Ensco Bags Big Contract With ConocoPhillips
Advertisement
Financials ($)
Sales 2017 29 073 M
EBIT 2017 2 413 M
Net income 2017 938 M
Debt 2017 13 336 M
Yield 2017 2,17%
P/E ratio 2017 74,99
P/E ratio 2018 26,58
EV / Sales 2017 2,50x
EV / Sales 2018 2,47x
Capitalization 59 267 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 25%
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-4.45%59 267
EOG RESOURCES INC-8.51%53 387
CNOOC LTD-6.01%52 089
OCCIDENTAL PETROLEUM C..-13.60%47 052
WILLIAMS PARTNERS LP7.63%39 805
OIL & NATURAL GAS CORP..-2.49%37 268
More Results