ConocoPhillips (NYSE:COP) released its earnings numbers for the three months through September this morning before the market opened on Wall Street. The oil producer showed earnings of $1.47 for the quarter, which ConocPhillips recorded as its third of 2013. On Wednesaday’s market shares in the fir trended down to finish trading at 73.25.

ConocoPhillips

Twenty analysts surveyed by Bloomberg in anticipation of this morning’s earnings report came to a consensus earnings figure of $1.43 per share. The beat in this morning’s report is a positive one, but the market is taking it with mild positivity. In pre-market trading shares in ConocoPhillips (NYSE:COP) are up a fraction. This morning’s earnings represent a small amount of growth over last year’s numbers.

ConocoPhilips earnings

In the September quarter of 2012 ConocoPhillips (NYSE:COP) recorded earnings per share of $1.38. This morning’s earnings numbers represent an increase of around 5% over last year’s income. The $1.47 earnings figure excluded certain one off payments in the three months period. Including those payments, ConocoPhilips earned $2 per share.

ConocoPhillips (NYSE:COP) mad a few important moves through the third quarter. The company sold its part of Phoenix Park Gas, a Trinidad and Tobago based natural gas exploration company, and also sold its share of Clyden. The company started a major project in Christina Lake and Ekofisk South ion the last three months, and the company meaningfully increased production in some of its ongoing concerns.

In the full quarter ConocoPhillips (NYSE:COP) managed to produce around 1.5 million barrels of oil during the period, in line with its guidance. The company is still involved in major exploration projects, including surveys in the Gulf of Mexico, Canada and Australia.

ConocoPhillips performance

This morning’s earnings report was not a massive beat by any means, but it does show very solid progress from ConocoPhillips (NYSE:COP). The company’s stock has gained about 26% so far in 2013, and it’s P/E has expanded to around 12 this year. Investors are expecting the company to grow solidly in the coming years, and they’re happy with the dividends the company offers. The firm increased its dividend in July. for the September quarter it stands at 69 cents per share.

At 1 PM EST ConocoPhillips (NYSE:COP) executives will host an earnings call in order to discuss these results. Investors and analysts will be looking to hear the manager’s thoughts on commodity prices in the coming months, and the firm’s guidance for December.