Conocophillips (cop) Stock Climbs Ahead Of Earnings Release

NEW YORK (TheStreet) -- ConocoPhillips shares are up by 1.03% to $52.78 in afternoon trading on Wednesday, ahead of the release of the oil company's second quarter financial results, which are due out before the market open tomorrow morning. Analysts on average are expecting the company to report earnings of 4 cents per share, a significant drop from the year ago period when the company reported earnings of $1.61 per share. For the most recent quarter ConocoPhillips is expected to produce between 1,555 and 1,595 MBOED compared to the 1,610 MBOED it averaged in the previous quarter. Revenue for the period is expected to be $8.7 billion, a decline from the $14.7 billion the company reported in the same period a year ago. Exxon Mobil and Chevron , two of the world's largest oil companies, are scheduled to report their earnings results on Friday. Separately, TheStreet Ratings team rates CONOCOPHILLIPS as a Hold with a ratings score of C.