Shares of ConocoPhillips COP edged up 0.3% in premarket trading, after the energy exploration and production company reported fourth-quarter profit and production that rose, as realized prices increased, but fell a bit shy of expectations. Net income rose to $3.2 billion, or $2.61 a share, from $2.6 billion, or $1.98 a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS of $2.71 was below the FactSet consensus of $2.72. Production increased 9.
61 a share, from $2.6 billion, or $1.98 a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS of $2.71 was below the FactSet consensus of $2.72. Production increased 9.3% to 1,758 thousand barrels of oil equivalent per day , but was just shy of the FactSet consensus of 1,764 Mboed. The total average realized price grew 8.4% to $71.05 per barrel of oil equivalent , and since production remains unhedged, the company realized the entirety of changes in market prices.