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published in Blogs
Aug 06, 2022
ConocoPhillips (COP, $92.85) beats Q2 earnings expectations

ConocoPhillips (COP, $92.85) beats Q2 earnings expectations

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).

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