Reuters: Global Markets: Conoco shares off 5 percent, output forecast disappoints

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Conoco shares off 5 percent, output forecast disappoints Jan 31st 2013, 15:20 Tweet Share this Email Print Analysis & Opinion Real estate negotiations, Argentina style Related Topics Hot Stocks » Asian Markets » Smoke is released into the sky at the ConocoPhillips oil refinery in San Pedro, California March 24, 2012. Credit: Reuters/Bret Hartman Thu Jan 31, 2013 10:20am EST (Reuters) - ConocoPhillips (COP.N) shares fell over 5 percent on Thursday, a day after the U.S. oil and natural gas company issued a production forecast that fell short of some Wall Street expectations. Conoco said on Wednesday it sees full-year 2013 production of 1.475 million to 1.525 million barrels oil equivalent (boe) per day. Analysts at Houston energy investment bank Tudor Pickering Holt characterized Conoco's production forecast as "negative." Tudor Pickering had expected full-year output of 1.531 million boe per day, it said in a note to clients. Shares of Conoco dropped $3.18 to $57.91 in morning New York Stock Exchange trading. (Reporting By Anna Driver; Editing by Gerald E. McCormick) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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