ConocoPhillips hikes share buyback as company tops third-quarter profit estimates on higher output [Globe and Mail, The (Toronto, Canada)]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: Globe and Mail, The
Log in or create a free account to listen to this article. ConocoPhillips COP-N increase exceeded Wall Street's third-quarter profit estimates on Thursday as the Texas-based oil and gas producer reaped the benefits of higher production, sending its shares rising 2.6 per cent at $105.5 in premarket trading. Commodity price volatility has been in focus in the past few months, driven by several factors including the escalating conflict in the Middle East, weak China demand, rate decisions by the U.S. Federal Reserve and OPEC actions. Benchmark Brent crude averaged $78.3 a barrel in the reported quarter, nearly 9 per cent lower than last year, but still favorable enough for oil and gas producers to drill profitably. Production for the quarter stood at 1.92 million barrels of oil equivalent per day, up 6 per cent from 1.8 million boepd in the year-ago quarter. The company increased its existing share repurchase authorization by up to $20-billion and reiterated its $9-billion m
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COP
Earnings
- 10/31/24 - Beat
COP
Sec Filings
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- 10/31/24 - Form 10-Q
- COP's page on the SEC website