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ConocoPhillips (COP) Posts Higher Q2 Loss, Miss Revenue
Houston, TX-based ConocoPhillips (COP - Free Report) is a major global exploration and production (E&P) company with operations and activities in 21 countries that include the U.S., Canada, UK/Norway, China, Australia, offshore Timor-Leste, Indonesia, Libya, Nigeria, Algeria, Russia and Qatar.
Currently, ConocoPhillips has a Zacks Rank #2 (Buy) but that could change following its second-quarter 2016 report which has just released. We have highlighted some of the key details from the just-released quarterly announcement below:
CONOCOPHILLIPS Price and EPS Surprise
CONOCOPHILLIPS Price and EPS Surprise | CONOCOPHILLIPS Quote
Earnings: Loss per share excluding special items came in at 79 cents, missing the Zacks Consensus Estimate of 62 cents loss per share.
Revenue: Revenues of $5.58 billion failed to beat the Zacks Consensus Estimate of $6.47 billion.
Key Stats: Total production during the second-quarter 2015 came at 1,546 thousand barrels of oil equivalent per day (MBOE/D), down from 1,595 MBOE/D in the year ago quarter period. The company’s total realized price was $27.79 per barrel of oil equivalent (BOE), compared with $39.06 per BOE in the second quarter of 2015, reflecting lower average realized prices across all commodities.
Check back later for our full write up on this COP earnings report later!
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