Zacks: Analysts Expect ConocoPhillips (COP) Will Post Quarterly Sales of $7.43 Billion

Brokerages expect ConocoPhillips (NYSE:COP) to post $7.43 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for ConocoPhillips’ earnings. The highest sales estimate is $7.72 billion and the lowest is $6.85 billion. ConocoPhillips reported sales of $7.25 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The business is expected to announce its next quarterly earnings report on Thursday, February 1st.

According to Zacks, analysts expect that ConocoPhillips will report full-year sales of $7.43 billion for the current financial year, with estimates ranging from $27.84 billion to $31.56 billion. For the next year, analysts expect that the company will post sales of $29.08 billion per share, with estimates ranging from $26.54 billion to $30.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow ConocoPhillips.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the prior year, the firm posted ($0.66) earnings per share.

A number of equities analysts recently commented on the company. Scotiabank restated a “buy” rating and set a $52.00 target price on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Royal Bank Of Canada boosted their price target on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Jefferies Group set a $54.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Finally, Barclays increased their price target on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.59.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC boosted its holdings in ConocoPhillips by 0.7% during the 1st quarter. Private Advisor Group LLC now owns 103,426 shares of the energy producer’s stock valued at $5,083,000 after acquiring an additional 683 shares during the period. Mcrae Capital Management Inc. lifted its holdings in shares of ConocoPhillips by 5.8% in the 1st quarter. Mcrae Capital Management Inc. now owns 91,758 shares of the energy producer’s stock worth $4,576,000 after buying an additional 5,055 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of ConocoPhillips in the 1st quarter worth $3,624,000. NN Investment Partners Holdings N.V. lifted its holdings in shares of ConocoPhillips by 10.3% in the 1st quarter. NN Investment Partners Holdings N.V. now owns 1,084,658 shares of the energy producer’s stock worth $54,094,000 after buying an additional 101,237 shares during the period. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of ConocoPhillips by 2.0% in the 1st quarter. Transamerica Financial Advisors Inc. now owns 12,305 shares of the energy producer’s stock worth $614,000 after buying an additional 247 shares during the period. 69.89% of the stock is owned by institutional investors.

ConocoPhillips (NYSE:COP) opened at $50.88 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The company has a market capitalization of $59,931.22, a price-to-earnings ratio of 2,506.50, a PEG ratio of 12.31 and a beta of 1.28.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.08%. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.

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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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Earnings History and Estimates for ConocoPhillips (NYSE:COP)

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