ConocoPhillips Ends 2020 on a High Note
ConocoPhillips (NYSE: COP) capped a very turbulent year in the oil market by reporting better-than-expected fourth-quarter results. While the oil producer posted an adjusted loss of roughly $200 million, or $0.19 per share, that was $0.06 per share ahead of analysts' expectations as its cost-cutting initiatives paid dividends. Meanwhile, it generated $1.67 billion of cash flow from operations, which, while down 44% year over year, topped the consensus estimate of $1.39 billion.
Here's a closer look at the quarter and what ConocoPhillips sees ahead for 2021.
Image source: Getty Images.
Source Fool.com
