News Formal

ConocoPhillips hikes share buyback as company tops third-quarter profit estimates on higher output

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 92%

Energy Nyheter

Sverige Senaste nytt,Sverige Rubriker

ConocoPhillips forecast its full-year output to be between 1.94 million and 1.95 million barrels of oil equivalent per day, compared with 1.93 million to 1.94 million previously

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.

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. The company increased its existing share repurchase authorization by up to $20-billion and reiterated its $9-billion minimum shareholder return for 2024.

Plans to close the deal this quarter remain on track and the company expects to significantly exceed its initial $500-million synergy forecast, CEO Ryan Lance said.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 5. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

UK Treasury chief unveils budget with 40 billion pounds in tax hikes, promising greater investmentLONDON (AP) — British Treasury chief Rachel Reeves is announcing 40 billion pounds in tax hikes in her first budget, saying she will use the money to “invest, invest, invest” and get the economy growing.
Källa: SooToday - 🏆 8. / 85 Läs mer »

UK Treasury chief unveils budget with $50 billion in tax hikes, promising greater investmentLONDON (AP) — British Treasury chief Rachel Reeves told lawmakers Wednesday that taxes will rise by 40 billion pounds ($52 billion) in order to plug a hole in the public finances and investment projects to boost growth.
Källa: SooToday - 🏆 8. / 85 Läs mer »

Netflix earnings, subscriber growth top estimates as investors eye potential price hikesNetflix stock is rising after the streaming giant beat third quarter EPS and revenue estimates. Here's what to know.
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »