NEW YORK, September 18, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on ConocoPhillips Co. (NYSE: COP). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=COP
Highlights from our COP Report include:
- Earnings performance at a glance - On July 30, 2015, the American multinational energy corporation, ConocoPhillips announced results for the second quarter and half year ended June 30, 2015. The Company reported a net loss of $179 million, or loss of $0.15 per share in Q2 2015, compared to the earnings of $2.1 billion, or $1.67 per share in the year-ago period. Adjusted earnings, stood at $81 million, or $0.07 per share for Q2 2015, as against $2.0 billion, or $1.61 per share for Q2 2014, impacted by lower total realized prices of $39.09 per barrel of oil equivalent (BOE), compared with $70.17 per BOE in Q2 2014. For the six months, earnings were reported at $93 million or $0.07 per share, as compared to $4.2 billion, or $3.38 per share in the prior year period. ConocoPhillips saw an adjusted net loss of $141 million or loss of $0.11 per share in H1 2015 as against the adjusted earnings of $4.3 billion, or $3.42 per share in H1 2014.
- Production details - Excluding Libya, production from continuing operations witnessed a year-over-year increase of 39 thousand Barrels Oil Equivalent per Day (MBOED) to 1,595 MBOED in Q2 2015. For H1 2015, production from continuing operations advanced to 1,603 MBOED, as compared to 1,543 MBOED recorded in H1 2014.
- Update on Operations - ConocoPhillips informed that at lower 48, production grew by 16 MBOED YoY to 556 MBOED in Q2 2015. Meanwhile, from Canada, production increased by 22 MBOED YoY to 306 MBOED. Further, from Asia Pacific and Middle East region, the Company's production was up by 27 MBOED YoY to 349 MBOED. On the other hand, its production from Alaska and Europe, fell by 19 MBOED to 174 MBOED, and 7 MBOED to 206 MBOED, respectively. Meanwhile, during Q2 2015, operating costs declined to $2.16 billion, from $2.43 billion in Q2 2014. For the half year, the operating cost declined to $4.30 billion compared with $4.74 billion in H1 2014.
- Outlook - While remaining on track to achieve its production target of 2%-3% from continuing operations in 2015, ConocoPhillips expects the production for Q3 2015 to be in the range of 1,510 to 1,550 MBOED. Further, the Company reduced its 2015 guidance for capital expenditure from $11.5 billion to $11.0 billion, and its guidance for operating costs to $8.9 billion from its previous estimates of $9.2 billion.
To find out how this influences our rating on ConocoPhillips Co., read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=COP
About ACI Association:
Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the Sponsor have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the Sponsor (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.
ACI Association, the Author, the Reviewer and the Sponsor (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.
ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.