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ConocoPhillips (COP) Posts Narrower-than-Expected Q1 Loss

Houston, TX-based ConocoPhillips (COP) is a major global exploration and production (E&P) company with operations and activities in 25 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 #3 (Hold) but that could change following its first-quarter 2016 report which has just released. We have highlighted some of the key details from the just-released quarterly announcement below:

Earnings: Loss per share excluding special items came in at 95 cents, narrower than the Zacks Consensus Estimate of loss of $1.07 per share.

Revenue: Revenues of $5,015 million failed to beat the Zacks Consensus Estimate of $5,568 million.

Key Stats: Total production, from continuing operations, during the first-quarter 2016 came at 1,578 thousand barrels of oil equivalent per day (MBOE/D), down from 1,610 MBOE/D in the year ago quarter period. The company’s total realized price was $22.94 per barrel of oil equivalent (BOE), compared with $36.92 per BOE in the first 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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CONOCOPHILLIPS (COP): Free Stock Analysis Report
 
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