Earnings Beat: Headquartered in Houston, TX, ConocoPhillips (COP - Free Report) reported first-quarter adjusted earnings of $1.00 per share. The bottom-line surpassed the Zacks Consensus Estimate of 92 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the past seven days.
ConocoPhillips has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in all of the last four quarters, the average positive earnings surprise being 15.7%.
Revenues Beat: Revenues of $10,057 million beat the Zacks Consensus Estimate of $9,157 million.
Key Stats: Total production of 1,361 thousand barrels of oil equivalent per day (MBoe/d) was higher than the year-earlier quarter level of 1,269 MBoe/d.
The average realized crude oil price during the first quarter was $59.45 per barrel, representing an decrease from the year-ago realization of $65.49.
Zacks Rank: Currently, ConocoPhillips has a Zacks Rank #2 (Buy) but that could change following its first-quarter 2019 report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this ConocoPhillips earnings report later!
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