RTTNews | Feb 2, 2021 07:24AM EST

07:23 Tuesday, February 2, 2021 (RTTNews.com) - ConocoPhillips (COP) reported a fourth-quarter adjusted loss of $0.2 billion, or $0.19 per share, compared to profit of $0.8 billion, or $0.76 per share, a year ago. On average, 22 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.28, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter total revenues and other income declined year-on-year to $6.05 billion from $8.14 billion. Analysts expected revenue of $5.13 billion, for the quarter.

Fourth quarter production excluding Libya was 1,144 thousand barrels of oil equivalent per day (MBOED), a decrease of 145 MBOED from a year ago. After adjusting for closed acquisitions and dispositions, fourth-quarter production decreased 88 MBOED or 7 percent.

ConocoPhillips has set a 2021 operating plan capital budget of $5.5 billion. This includes $5.1 billion to sustain current production and $0.4 billion for investment in major projects.

The company announced a quarterly dividend of 43 cents per share, payable March 1, 2021, to stockholders of record at the close of business on Feb. 12, 2021.

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