ConocoPhillips Reports Decline in Profit; Beats Estimates (COP)

By
A A A
Share |

Energy company, ConocoPhillips( COP ) 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 morning.

The Bottom Line
We have been recommending shares of ConocoPhillips ( COP ) 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.

ConocoPhillips( COP ) 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 .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com



This article appears in: Investing , Stocks

Referenced Stocks: COP

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

88%

Most Active by Volume

71,516,687
  • $15.31 ▼ 0.71%
70,751,657
  • $32 ▲ 6.38%
52,690,101
  • $15.98 ▼ 0.19%
42,003,007
  • $8.57 ▲ 4.51%
38,202,273
  • $123.25 ▼ 0.80%
33,193,564
  • $40.97 ▼ 0.58%
31,456,406
  • $105.52 ▲ 0.40%
30,445,885
  • $5.67 ▼ 4.55%
As of 3/27/2015, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com