2 Big Oil and Gas Stocks Up Over 1% After Earnings

ConocoPhillips (NYSE:COP) reported its results for the third quarter.  Net income for the oil and gas company fell to $2.62 billion ($1.91 per share) vs. $3.06 billion ($2.05 per share) a year earlier. This is a decline of 14.4% from the year earlier quarter. COP reported adjusted net income of $2.52 per share. By that measure, the company beat the mean estimate of $2.16 per share.

“This quarter’s results benefitted from improved market conditions,” said Jim Mulva, chairman and chief executive officer. “While commodity prices were higher, E&P production was lower, mainly due to suspended operations in Bohai Bay and Libya. Our downstream business ran well, allowing us to capture stronger refining margins.”

Competitors to Watch: Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), BP plc (NYSE:BP), Marathon Oil Corporation (NYSE:MRO), Hess Corp. (NYSE:HES), China Petroleum & Chemical Corp. (NYSE:SNP), TOTAL S.A. (NYSE:TOT), Repsol YPF, S.A. (REPYY), and Statoil ASA (NYSE:STO).

Hess Corporation (NYSE:HES) reported its results for the third quarter. Net income for the oil and gas refining and marketing company fell to $298 million (88 cents per share) vs. $1.15 billion ($3.52 per share) a year earlier. This is a decline of 74.2% from the year earlier quarter. Revenue  rose 10.2% to $8.66 billion from the year earlier quarter. HES fell short of the mean analyst estimate of $1.41 per share. It fell short of the average revenue estimate of $9.68 billion.

Competitors to Watch: Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), Marathon Oil Corporation (NYSE:MRO), ConocoPhillips (NYSE:COP), BP plc (NYSE:BP), TOTAL S.A. (NYSE:TOT), Repsol YPF, S.A. (REPYY), Occidental Petroleum Corp. (NYSE:OXY), and China Petroleum & Chemical Corp. (NYSE:SNP).

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