As one of the largest independent exploration and production companies in the U.S., ConocoPhillips (NYSE: COP) is like an ocean liner, which makes it tough for the company to quickly alter course. That has been evident in its financial results, which have continued to bleed red during the oil market downturn while the company works on its turnaround strategy. However, that plan started bearing fruit last quarter, which gives investors some optimism that the oil giant might finally report a profit when it releases first-quarter results on Tuesday morning.