ConocoPhillips Reports Smaller-than-expected Fourth-quarter Loss, Production Beat

ConocoPhillips reported a smaller-than-expected fourth-quarter loss and a production beat on Thursday. The loss was $35 million, or three cents per share, compared with a loss of $3.5 billion, or $2.78 per share in the year-earlier period. Adjusted loss per share was 26 cents, compared with the FactSet consensus of a 42 cent loss. Fourth-quarter production was down 12 MBOED to 1,587 MBOED, compared with the FactSet consensus of 1,580 MBOED. The company expects first-quarter 2017 production of 1,540 MBOED to 1,580 MBOED, compared with the FactSet consensus of 1,580 MBOED. For 2017, ConocoPhillips expects production at 1,540 MBOED to 1,570 MBOED, compared with the FactSet consensus of 1,570 MBOED. ConocoPhillips shares have risen 12.2% over the last three months, compared with a 8.7% rise in the S&P 500 .