ConocoPhillips posted its second-quarter adjusted earnings per share of $3.91, which exceeded the Zacks Consensus Estimate of $3.78. The prior-year quarter’s $1.27 per share.
The oil and gas major’s quarterly revenues came in at $21,989 million(vs. prior-year quarter’s 2021 $10,211 million), beating the Zacks Consensus Estimate of $18,019 million. The results were bolstered by higher oil-equivalent production volumes and realized commodity prices.
ConocoPhillips announced a quarterly dividend of 46 cents per share, payable Sept 1, 2022, to stockholders of record at the close of business on Aug 16, 2022.
ConocoPhillips expects production between 1.70 MMBoe/d and 1.76 MMBoe/d for the third quarter. For full-year 2022, the company expects production at 1.74 million barrels of oil equivalent per day (MMBoe/d).