This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pogo Producing Earnings Soar

Pogo Producing (PPP - Get Report) said its second-quarter profits soared, helped by sale of Gulf of Mexico properties.

The Houston-based oil exploration company earned $361.9 million, or $6.31 a share, in the quarter, compared with $103.4 million, or $1.71 a share, a year ago. Excluding the gain from the Gulf of Mexico property sale, the company earned $166.1 million. Analysts polled by Thomson First Call were estimating earnings of $1.01 a share.

Second-quarter revenue jumped 145.7% to $674.6 million. Revenue includes a gain of $308.4 million from sale of an undivided 50% interest in each of its Gulf of Mexico properties. Analysts were estimating revenue of $381.1 million in the most recent quarter.

Oil production averaged about 37,292 barrels a day in the quarter compared with an average of 30,450 barrels a day a year ago. Natural gas production averaged about 269.9 million cubic feet a day in the second quarter compared with 254.5 million cubic feet a day a year ago.

The company said oil and condensate prices rose 40.4% to an average of $65.47 a barrel, but natual gas prices slipped 7.1% to an average of $6.02 a thousand cubic feet.

The company's shares were trading at $44.08, down 72 cents, or 1.6% Tuesday.
This story was created through a joint venture between and IRIS.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PPP $1.77 0.00%
AAPL $95.03 0.21%
FB $116.73 0.00%
GOOG $691.02 0.00%
TSLA $249.50 0.72%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs