- COP reported Q4 earnings of $2.5 billion, or $2.00 per share, up from $1.43 billion, or $1.16 per share, a year ago.
- Excluding special items related to the discontinued operations of its Algeria business, earnings were $1.74 billion, or $1.40 per share, well above analysts' estimates of $1.31 per share.
- Revenue totaled $13.99 billion, down 15% from last year. Analysts expected revenue of $15.13 billion.
- Oil production declined 5.9% during the quarter. The company said that the decline was due to weather conditions and the disruption in Libya.
- Full year adjusted earnings were $7.1 billion, or $5.70 per share, up from$6.7 billion, or $5.37 per share, in 2012.
Ryan Lance, chairman and CEO of COP said: “2013 was a significant year for the company and we achieved several important, strategic milestones. We delivered on our non-core asset sales, progressed our growth programs, achieved conventional and unconventional exploration success, and increased our dividend. In addition, our capital program yielded strong organic reserve replacement, which demonstrates the quality and potential of our asset base. These accomplishments position us to meet our unique combination of 3 to 5 percent volume and margin growth with a compelling yield. We are set for an exciting year in 2014."COP's Dividend COP is expected to pay its next quarterly dividend of 69 cents per share in February. In July 2013, COP raised its dividend 4.5% from 66 to 69 cents per share. Stock Performance ConocoPhillips shares were up 25 cents, or 0.38%, during pre-market trading Thursday.