$8.50 Billion in Sales Expected for ConocoPhillips (COP) This Quarter

Equities analysts expect ConocoPhillips (NYSE:COP) to report sales of $8.50 billion for the current quarter, Zacks reports. Four analysts have made estimates for ConocoPhillips’ earnings, with the highest sales estimate coming in at $8.97 billion and the lowest estimate coming in at $7.85 billion. ConocoPhillips posted sales of $7.77 billion in the same quarter last year, which suggests a positive year over year growth rate of 9.4%. The company is expected to issue its next earnings report on Tuesday, May 1st.

On average, analysts expect that ConocoPhillips will report full-year sales of $8.50 billion for the current year, with estimates ranging from $30.05 billion to $39.74 billion. For the next financial year, analysts anticipate that the business will post sales of $33.93 billion per share, with estimates ranging from $31.64 billion to $36.58 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for ConocoPhillips.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The company had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same period last year, the firm earned ($0.26) earnings per share.

A number of research firms have weighed in on COP. Credit Suisse Group began coverage on ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target on the stock. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, January 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $63.00 price objective on shares of ConocoPhillips in a report on Wednesday, January 24th. Barclays raised their price objective on ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Macquarie assumed coverage on ConocoPhillips in a report on Wednesday, January 17th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $58.71.

In related news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.82% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its holdings in ConocoPhillips by 0.4% in the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares in the last quarter. Genesee Valley Trust Co. boosted its holdings in ConocoPhillips by 0.6% in the 2nd quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock valued at $312,000 after purchasing an additional 45 shares in the last quarter. Girard Partners LTD. boosted its holdings in ConocoPhillips by 0.6% in the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after purchasing an additional 49 shares in the last quarter. First City Capital Management Inc. boosted its holdings in ConocoPhillips by 1.4% in the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 75 shares in the last quarter. Finally, Whalerock Point Partners LLC boosted its holdings in ConocoPhillips by 1.2% in the 2nd quarter. Whalerock Point Partners LLC now owns 8,300 shares of the energy producer’s stock valued at $365,000 after purchasing an additional 100 shares in the last quarter. 69.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ConocoPhillips (NYSE COP) opened at $55.63 on Thursday. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $65,847.36, a price-to-earnings ratio of 76.63, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32.

ConocoPhillips declared that its board has initiated a share buyback program on Wednesday, November 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the energy producer to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio (DPR) is currently -212.00%.

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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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