$0.07 Earnings Per Share Expected for ConocoPhillips (NYSE:COP) This Quarter
Wall Street brokerages predict that ConocoPhillips (NYSE:COP) will post earnings per share (EPS) of $0.07 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for ConocoPhillips’ earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at $0.36. ConocoPhillips reported earnings per share of ($0.66) in the same quarter last year, which suggests a positive year over year growth rate of 110.6%. The company is expected to issue its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that ConocoPhillips will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.11 to $0.89. For the next financial year, analysts anticipate that the firm will post earnings of $1.54 per share, with EPS estimates ranging from $0.01 to $3.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for ConocoPhillips.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period in the previous year, the firm posted ($0.79) EPS.
A number of equities research analysts have commented on COP shares. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Saturday, July 1st. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 15th. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and raised their price target for the stock from $55.00 to $59.00 in a report on Wednesday, May 17th. Finally, Citigroup Inc. reduced their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.18.
ConocoPhillips (NYSE COP) traded up 1.02% during midday trading on Tuesday, reaching $45.63. 8,032,084 shares of the company traded hands. The stock’s market capitalization is $55.53 billion. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The company has a 50 day moving average of $44.23 and a 200-day moving average of $46.67.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s payout ratio is currently -34.98%.
In related news, VP James D. Mcmorran sold 9,091 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.82% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Patten & Patten Inc. TN increased its stake in ConocoPhillips by 4.6% in the second quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock worth $2,608,000 after buying an additional 2,607 shares during the period. State of Alaska Department of Revenue bought a new stake in ConocoPhillips during the first quarter worth about $193,000. First Foundation Advisors bought a new stake in ConocoPhillips during the first quarter worth about $497,000. Capital Investment Advisors LLC increased its stake in ConocoPhillips by 10.3% in the first quarter. Capital Investment Advisors LLC now owns 26,482 shares of the energy producer’s stock worth $1,321,000 after buying an additional 2,477 shares during the period. Finally, Shell Asset Management Co. increased its stake in ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock worth $9,845,000 after buying an additional 1,887 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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