ConocoPhillips Reports Second-quarter Loss

ConocoPhillips on Thursday reported a loss of $3.4 billion, a loss of $2.78 per share in the second quarter, compared to a loss of $1.1 billion or 86 cents per share, in the prior year. Adjusted per-share earnings were $200 million, or 14 cents per share. The FactSet consensus had been for a 2-cent loss per share. The stock is down 12.8% for the year to date, versus a 10.7% increase for the S&P 500 . CEO Ryan Lance cited "significant progress in transforming our company" in a release.