Commodities such as oil tend to increase when there are geopolitical tensions, especially in the Middle East region, as they could affect the supply chains and further elevate the price of black gold.According to sources within the market citing figures from the American Petroleum Institute (API), U.S. crude oil inventories increased last week, while fuel stockpiles experienced declines. The API data indicated a rise of 8.52 million barrels in crude stocks for the week ending February 9. Gasoline inventorie ...

LNG Tanker Moored To The Jetty Felix Cesare/Moment via Getty Images In late January, President Biden issued a statement announcing a "pause" on pending approvals for new LNG export terminals. The negative response from the Republicans and the O&G industry was expected and did not disappoint. However, the "pause" does not impact LNG terminals that have already been approved by the Biden administration. As most of my followers know, I have been reporting on ConocoPhillips' (NYSE:COP) pivot from investing he ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

4Q23 Earnings Conference Call February 8, 2024 Cautionary Statement This news release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as"ambition,""anticipate,""estimate,""believe,""budget""continue,""could,""intend,""may""plan,""potential,""predict,""seek,""should,""will,""woul ...

ConocoPhillips (NYSE:COP) Q4 2023 Earnings Conference Call February 8, 2024 12:00 PM ET Company Participants Phil Gresh - Vice President, Investor Relations Ryan Lance - Chairman and CEO Tim Leach - Advisor, CEO Bill Bullock - Executive Vice President and CFO Dominic Macklon - Executive Vice President, Strategy, Sustainability and Technology Nick Olds - Executive Vice President, Lower 48 Andy O'Brien - Senior Vice President, Global Operations Kirk Johnson - Senior Vice President, Lower 48, Assets and Operat ...

For the quarter ended December 2023, ConocoPhillips (COP) reported revenue of $15.31 billion, down 20.5% over the same period last year. EPS came in at $2.40, compared to $2.71 in the year-ago quarter.The reported revenue represents a surprise of +5.76% over the Zacks Consensus Estimate of $14.47 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +15.38%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

ConocoPhillips (COP) reported fourth-quarter 2023 adjusted earnings per share of $2.40, beating the Zacks Consensus Estimate of $2.08. The bottom line, however, declined from the prior-year quarter’s $2.71 per share.One of the world’s leading independent oil and gas producers headquartered in Houston, TX, ConocoPhillips’ quarterly revenues of $15.3 billion decreased from the fourth-quarter 2022 figure of $19.3 billion. The top line, however, beat the Zacks Consensus Estimate of $14.5 billion.Higher oil equi ...

Shares of ConocoPhillips COP, +0.72% tacked on 0.4% in premarket trading Thursday, after the oil exploration and production company beat fourth-quarter profit and revenue expectations as 2023 production reached record levels. Net income fell to $3.01 billion, or $2.52 a share, from $3.25 billion, or $2.61 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.40 were well above the FactSet consensus of $2.09. Revenue declined 20.5% to $15.31 billion but was above t ...

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share, compared with fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share. Excluding special items, fourth-quarter 2023 adjusted earnings were $2.9 billion, or $2.40 per share, compared with fourth-quarter 2022 adjusted earnings of $3.4 billion, or $2.71 per share. Special items for the current quarter were comprised of a benefit related to the reversal of a tax reserve, ...

ConocoPhillips Quarterly Earnings Outlook Analyst Q4 Estimates Q3 2023 Q4 2022 Revenue $15.56 billion $14.87 billion $19.26 billion Diluted Earnings Per Share (EPS) $2.12 $2.33 $2.61 Net Income $2.52 billion $2.8 billion $3.25 billionSource: VisibleAlpha Key Metric ConocoPhillips derives about 30% of its revenue from natural gas production and marketing, and gas prices have plummeted in the past year. Compared with a year ago, Visible Alpha expects the firm will report the average price it received for n ...