ConocoPhillips (COP) Expected to Announce Earnings of $0.04 Per Share
Wall Street analysts expect ConocoPhillips (NYSE:COP) to post earnings of $0.04 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ConocoPhillips’ earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at $0.20. ConocoPhillips posted earnings of ($0.66) per share in the same quarter last year, which suggests a positive year over year growth rate of 106.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that ConocoPhillips will report full year earnings of $0.29 per share for the current year, with EPS estimates ranging from $0.00 to $0.85. For the next financial year, analysts expect that the business will report earnings of $1.37 per share, with EPS estimates ranging from $0.40 to $3.11. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow ConocoPhillips.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same period in the prior year, the company posted ($0.79) earnings per share.
A number of equities research analysts recently issued reports on the company. Scotiabank restated a “buy” rating and issued a $52.00 price objective on shares of ConocoPhillips in a research note on Friday, September 8th. Jefferies Group LLC set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Royal Bank Of Canada set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, BidaskClub cut ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $54.19.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. grew its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares in the last quarter. Canal Capital Management LLC boosted its stake in ConocoPhillips by 0.3% in the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after buying an additional 22 shares in the last quarter. Wendell David Associates Inc. boosted its stake in ConocoPhillips by 0.3% in the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after buying an additional 26 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in ConocoPhillips by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after buying an additional 37 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its stake in ConocoPhillips by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after buying an additional 37 shares in the last quarter. 68.99% of the stock is owned by institutional investors.
ConocoPhillips (NYSE:COP) traded up 0.61% during trading on Thursday, hitting $45.84. 6,573,383 shares of the company traded hands. The stock has a 50 day moving average price of $44.43 and a 200 day moving average price of $45.67. The company’s market capitalization is $55.78 billion. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s payout ratio is -34.98%.
ConocoPhillips Company Profile
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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