Brokerages Anticipate ConocoPhillips (COP) Will Announce Quarterly Sales of $7.52 Billion

Analysts expect ConocoPhillips (NYSE:COP) to post $7.52 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 $8.09 billion and the lowest is $6.85 billion. ConocoPhillips posted sales of $7.25 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The company is expected to issue its next quarterly earnings results on Thursday, February 1st.

According to Zacks, analysts expect that ConocoPhillips will report full-year sales of $7.52 billion for the current year, with estimates ranging from $27.84 billion to $31.56 billion. For the next fiscal year, analysts expect that the firm will report sales of $29.04 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 firms that cover ConocoPhillips.

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

A number of brokerages have issued reports on COP. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Finally, Credit Suisse Group initiated coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $55.41.

Shares of ConocoPhillips (NYSE:COP) traded down $0.47 during midday trading on Friday, reaching $56.52. The company had a trading volume of 478,747 shares, compared to its average volume of 5,570,000. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. The firm has a market cap of $67,610.00, a P/E ratio of -28.40, a P/E/G ratio of 2.90 and a beta of 1.26. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $57.19.

In related news, Director Charles E. Bunch acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in COP. Financial Management Professionals Inc. increased 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 valued at $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank boosted its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after purchasing an additional 199 shares during the last quarter. Krilogy Financial LLC boosted its position in ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC boosted its position in ConocoPhillips by 140.2% in the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new position in ConocoPhillips in the first quarter worth about $123,000. 69.62% of the stock is owned by hedge funds and other institutional investors.

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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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