ConocoPhillips Doubles Profit to $4 Billion, Raises Dividend ...Middle East

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ConocoPhillips Doubles Profit to $4 Billion, Raises Dividend
source : OILPRICE ( Middle East ) () 43
ConocoPhillips more than doubled its third-quarter profit to $4 billion and raised its quarterly dividend by 11% on Thursday, joining a growing list of oil majors reporting enormous earnings gains as higher crude prices offset production disruptions caused by the Iran war. The Houston-based producer reported adjusted earnings of $3.27 per share, comfortably beating Wall Street's $2.97 estimate. Net income jumped from $1.7 billion a year earlier, despite a decline in production. The company's average realized price climbed 32% year over year to…

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