ConocoPhillips (COP) Releases Earnings Results, Beats Expectations By $0.09 EPS

ConocoPhillips (COP) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.95 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-1.04. Analysts expectations of $4960.60 million. During the same quarter in the previous year, the company posted $-0.18 EPS.

Many Wall Street Analysts have commented on ConocoPhillips. ConocoPhillips was Downgraded by Jefferies to ” Underperform” on Apr 21, 2016. Company shares were Reiterated by Deutsche Bank on Mar 29, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $55 .Shares were Reiterated by UBS on Feb 5, 2016 to “Neutral” and Lowered the Price Target to $ 38 from a previous price target of $42 .

ConocoPhillips opened for trading at $48.55 and hit $48.91 on the upside on Wednesday, eventually ending the session at $48.11, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 1,15,56,539 shares. Company has a market cap of $59,474 M.

In a different news, on Mar 10, 2016, Arjun N Murti (director) purchased 7,500 shares at $39.24 per share price. According to the SEC, on Nov 20, 2015, Jeffrey Wayne Sheets (EVP and CFO) sold 15,746 shares at $54.00 per share price. On Aug 17, 2015, Ellen Desanctis (Vice President) purchased 7,000 shares at $49.91 per share price, according to the Form-4 filing with the securities and exchange commission.

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for produces transports and markets crude oil bitumen natural gas liquefied natural gas (LNG) and natural gas liquids. The Company operates through six operating segments which are primarily defined by geographic region: Alaska Lower 48 Canada Europe Asia Pacific and Middle East and Other International. The Company’s continuing operations are producing in the United States Norway the United Kingdom Canada Australia Timor-Leste Indonesia China Malaysia Qatar Libya and Russia. The Company has major ownership interests in two of North America’s oil fields located on Alaska’s North Slope: Prudhoe Bay and Kuparuk.


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