reported earnings of 93 cents a share in the fourth quarter, beating Wall Street's estimates by 2 cents, and revenue for the period rose sharply from a year ago.
Earnings for the oil and gas company rose to $208.3 million, up from $169 million, or 78 cents a share, in the year-ago quarter. A dozen analysts polled by
First Call/Thomson Financial
had arrived at a consensus estimate of 91 cents a share for the latest period.
The Houston company reported fourth-quarter revenue of about $6 billion, up 87% from the year-ago period, when revenue was $3.2 billion. Strong earnings came in from Coastal's power division, where income rose 74%.
Shares of Coastal gained 33 cents, or 0.4%, to $77.33 in recent
New York Stock Exchange