Energy company, ConocoPhillips(
) reported decreased profits on Thursday for their third quarter,
but beat analysts expectations.
The Houston, TX based company reported profit of $1.8 billion,
or $1.46 a share for their third quarter. This years Q3 profit
showed a 31.3% decline compared with last years results of $2.62
billion, or $1.91 a share. Adjusted profit came in at $1.44 a
share, beating the average analyst estimate of $1.19 a share.
Reported revenue for the quarter was $15.09 billion, declining
9% from last years revenue of $16.70 billion. Actual Q3 results
beat analysts expectations of 11.11 billion by 26%.
Looking ahead, analysts have increased their estimates for the
forth quarter by 7%, predicting earnings of $1.40 a share, compared
with their prior estimate of $1.30. The average estimate for the
company's 2012 outlook is in the range of $5.52-$5.64.
ConocoPhillips shares were up 96 cents, or 1.72% on Thursday
The Bottom Line
We have been recommending shares of ConocoPhillips (
) since May 10, when the stock was trading at $53.47. The company
has a 4.72% dividend yield, based on last night's closing stock
price of $55.95.
) is a "Recommended" dividend stock at this time, holding a
Dividend.com DARS™ Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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