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Tag Archives: Zacks Investment Research

ConocoPhillips posts 4th-quarter loss, slashes dividend

HOUSTON — ConocoPhillips posted a wider-than-expected loss in the fourth quarter and slashed its quarterly dividend by 66 percent as oil prices continue to drop. The energy company’s stock fell 4 percent before the market open on Thursday. ConocoPhillips said it is lowering its dividend to 25 cents per share from 74 cents per share. The dividend is payable on ...

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Oil industry cutting jobs, investment to offset lower prices

Oil companies are cutting investment, slashing jobs and selling off pipelines and other assets as crude prices plunge. “It’s going to be a very turbulent year for our industry,” says BP CEO Bob Dudley. The latest warnings came from Exxon Mobil, which reported Tuesday that fourth-quarter earnings fell 58 percent in the oil giant’s weakest quarter since 2002. The results ...

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Hess Corp reports bigger 4Q loss amid oil slump

NEW YORK — Hess, which announced a 40 percent cut in capital expenditures for 2016 this week, promised even deeper cuts Wednesday after reporting worse-than expected losses in the fourth quarter with crude prices hovering around $30 per barrel. The New York company reported a loss of $1.82 billion, or $6.43 per share, in its fourth quarter, compared with a ...

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Freeport-McMoran reports 4Q loss

PHOENIX — Falling oil and commodities prices led Freeport-McMoran Copper & Gold Inc. to report a loss of $4.08 billion in its fourth quarter. The company is one of the world’s biggest producers of gold and copper, both of which have tumbled in value this year. The company also produces oil and natural gas, with oil at lowest price in ...

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Halliburton reports 3Q loss

HOUSTON — Halliburton Co. (HAL) on Monday reported a third-quarter loss of $54 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Houston-based company said it had a loss of 6 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 31 cents per share. The results ...

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Valero CEO enjoys $813 k in stock sales

Valero Energy Corp. Director Stephen Waters nabbed more than $300,000 through an inside trade of 5,000 shares of company stock last week. The San Antonio Journal reports that Waters still owns more than 13,000 shares of the company, totaling up to nearly $813,000 based off of the average stock sale price of $60.47. Octafinance released an investment report that suggests, ...

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ConocoPhillips beats 1Q profit forecasts

HOUSTON — ConocoPhillips (COP) on Thursday reported first-quarter net income of $272 million. The Houston-based company said it had net income of 22 cents per share. Losses, adjusted for pretax gains, were 18 cents per share. The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 19 cents ...

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Hess reports 1Q loss

NEW YORK — Hess Corp. (HES) on Wednesday reported a first-quarter loss of $389 million, after reporting a profit in the same period a year earlier. The New York-based company said it had a loss of $1.37 per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, came to 98 cents per share. The results surpassed Wall ...

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Valero Energy earns $964M in first quarter

SAN ANTONIO (AP) — Valero Energy Corp. has reported first-quarter earnings of $964 million. The San Antonio-based company said Tuesday that it had a per-share profit of $1.87. The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share. The oil refiner posted revenue of $21.33 billion ...

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Entergy misses 4Q profit forecasts

NEW ORLEANS — Entergy Corp. (ETR) on Thursday reported fourth-quarter profit of $125 million. The New Orleans-based company said it had net income of 66 cents per share. Earnings, adjusted for non-recurring costs, were 75 cents per share. The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of ...

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