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CONOCOPHILLIPS STOCK FALLS AFTER EARNINGS DISAPPOINTMENT - Capital Street FX

04-Feb
20:06 IST

In the Premarket trading session on Tuesday, ConocoPhillips’ stock was trading at 59.00-lower by 0.30% as compared to its previous close.

The Houston-based company reported its fiscal fourth-quarter earnings before the market opens on Tuesday. ConocoPhillips generated an EPS (adjusted for non-recurring items) of 76 cents for the quarter ended 31st December. The EPS was below the market expectation of 80 cents. The company brought in $8.14 billion in revenue for the fourth quarter. The revenue was below the consensus estimates of $8.16 billion.

The oil and gas producer has topped the median forecast for earnings per share two times over the last four quarters. ConocoPhillips has surpassed market expectations for revenue three times over the last four quarters. The company disclosed its realized price per barrel dropped 11.3% in the quarter. The oil and gas producer boosted its share buyback program by $10 billion.  Stocks of the company have risen 2.0% over the past three months.

On the technical front, the current price is below the MA5 and the MA20. The current price is below the middle line of the Bollinger Bands and is heading downwards. The stock is expected to trade lower today.

 

TRADE SUGGESTION- LIMIT SELL AT 59.10 TAKE PROFIT AT 58.20 STOP LOSS AT 59.55

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