ConocoPhillips Has Surprisingly Strong Earnings Despite Crude's Crash
Crude prices crashed during the first quarter, devastating the oil sector. Several oil companies have already filed for bankruptcy, while most others have had to slash spending, shareholder payouts, and production. ConocoPhillips (NYSE: COP) certainly hasn't been immune to this downturn. It reduced its drilling budget twice, suspended its share repurchase program, and curtailed some output.
But the company has still weathered this storm much better than most, which was clear in its first-quarter earnings.
Metric
Source Fool.com
