Thursday, February 5, 2026 at 2:47 PM
ConocoPhillips reported a decline in fourth-quarter earnings due to lower prices, despite a slight increase in production.
PG&E’s fourth-quarter net income fell from a year ago but the California power producer boosted the lower end of its projection for 2026 adjusted earnings.
The company said consumer demand was pressured early in the second quarter by factors including the government shutdown and heightened value-seeking behavior.
A shareholder resolution filed by U.K. and European pension funds, along with activist investor Australasian Centre for Corporate Responsibility, said the reset strategy and renewed focus on oil and gas doesn’t address the root cause of BP’s underperformance.
Shares of both companies have risen over the past year, despite U.S. oil prices ending 2025 down 20% a barrel.
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