UPDATE: ConocoPhillips Posts Rise In Q4 Profit

ConocoPhillips

reported a rise in its fourth-quarter profit. ConocoPhillips posted its quarterly profit of $2.5 billion, or $2.00 per share, versus a year-ago profit of $1.4 billion, or $1.16 per share. Its adjusted earnings declined to $1.40 per share versus $1.43 per share. However, analysts were projecting earnings of $1.33 per share. In the fourth quarter, ConocoPhillips produced 1,518 million barrels of oil equivalent per day. ConocoPhillips shares closed at $65.82 yesterday.