ConocoPhillips Gushes Red as Oil Price Volatility Weighs

This year's oil market turbulence torpedoed ConocoPhillips' (NYSE: COP) third-quarter results. It posted an adjusted loss of more than $300 million, or $0.31 per share, a sharp reversal from its year-ago profit of roughly $900 million, or $0.82 per share. 

However, while it was a tough quarter financially, the oil giant took advantage of the turbulent market conditions to go on an acquisition spree. That should fuel improved results when market conditions recover.

Image source: Getty Images.

Continue reading

Source Fool.com