Oil and Gas Companies Release Second Quarter Financial Results - Research Report on ExxonMobil, Chevron, ConocoPhillips, BP, and Encana

NEW YORK, August 8, 2013 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Today, Investors' Reports announced new research reports highlighting Exxon Mobil Corporation (NYSE: XOM), Chevron Corporation (NYSE: CVX), ConocoPhillips (NYSE: COP), BP plc (NYSE: BP), and Encana Corporation (NYSE: ECA). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Exxon Mobil Corporation Research Report

On August 1, 2013, Exxon Mobil Corporation (ExxonMobil) released its estimated Q2 2013 results. Total revenues and other income were down 16.4% YoY to $106.5 billion. GAAP Net income attributable to the Company was down 56.9% YoY to $6.9 billion. Diluted EPS was down 54.5% YoY to $1.55. Commenting on the results, Rex W. Tillerson, Chairman of ExxonMobil, said, "Excluding the prior year net gain of $7.5 billion associated with divestments and tax-related items, earnings were down 19%. Weaker refining margins and volumes associated with planned refinery turnaround and maintenance activities negatively impacted Downstream earnings." The Full Research Report on Exxon Mobil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-08-05/XOM]

Chevron Corporation Research Report

On August 2, 2013, Chevron Corporation (Chevron) released its Q2 2013 financial results. Total revenues and other income were down 8.4% YoY to $57.4 billion. Net income attributable to the Company was down 25.6% YoY to $5.4 billion. Diluted EPS was down 24.3% YoY to $2.77. Commenting on the results, John Watson, Chairman and CEO of Chevron, said, "Our second quarter earnings were down from the very strong level of a year ago." Watson continued, "The decrease was largely due to softer market conditions for crude oil and refined products. Earnings were also reduced as a result of repair and maintenance activities in our U.S. refineries." The Full Research Report on Chevron Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-08-05/CVX]

ConocoPhillips Research Report

On August 1, 2013, ConocoPhillips released its Q2 2013 financial results. Earnings were down 9.6% YoY to $2.1 billion. EPS was down 8.3% YoY to $1.65. On an adjusted basis, earnings were up 16.7% YoY to $1.8 billion and EPS was up 18.5% YoY to $1.41. Ryan Lance, Chairman and CEO of ConocoPhillips, said, "Production exceeded expectations as growth continued from our development programs, notably in the Eagle Ford where production nearly doubled compared with a year ago. Our major projects are progressing as planned, with Christina Lake Phase E first production in July and startups expected at Jasmine, Ekofisk South, SNP and the Gumusut FPS before year end. Our exploration momentum also continues, with drilling activity ongoing in deepwater, conventional and unconventional plays around the world." For Q3 2013, ConocoPhillips expects its production from continuing operations to be 1,460 to 1,490 thousand barrels of oil equivalent per day (MBOED), reflecting previously announced planned downtime and turnaround activity. The Full Research Report on ConocoPhillips - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-08-05/COP]

BP plc Research Report

On July 30, 2013, BP plc (BP) released its Q2 2013 financial results. Underlying replacement cost profit was down 23.6% YoY to $2.7 billion. Operating cash flow was $5.4 billion, up 21.1% YoY. BP's Upstream segment posted pre-tax underlying replacement cost profit of $4.3 billion, a 2.6% YoY decrease, primarily due to increasing production from new high-margin projects largely offsetting the impact of divestments. Commenting on the results, Bob Dudley, BP Group Chief Executive, said, "The results show strong underlying pre-tax performance from BP's businesses. We are seeing growth in production from new high-margin projects and are making good progress in exploration and project delivery. Completion of our operational milestones confirms our confidence in delivering our commitment to materially increase operating cash flow in 2014." The Full Research Report on BP plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-08-05/BP]

Encana Corporation Research Report

On July 24, 2013, Encana Corporation (Encana) released its Q2 2013 financial results. Encana's Q2 2013 operating earnings were $247 million or $0.34 per diluted share, up from $198 million or $0.27 per diluted share in Q2 2012. Net earnings were $730 million in Q2 2013, compared to a loss of $1.5 billion in Q2 2012. For Q2 2013, cash flow was down to $665 million or $0.90 per diluted share, compared to $794 million or $1.08 per diluted share in Q2 2012. Natural gas production was down 1.3% YoY to 2.8 million cubic feet per day (MMcf/d), while liquids production was up 68.8% YoY to 47.6 thousand barrels per day (Mbbls/d). Doug Suttles, President and CEO of Encana, said, "Our focus moving forward is to continue to exercise capital discipline while working to achieve ever greater efficiencies in how we run our business. We expect to see cost savings materialize throughout the rest of the year as a result of those efforts." The Full Research Report on Encana Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.InvestorsReports.com/report/2013-08-05/ECA]

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SOURCE Investors' Reports