ConocoPhillips (COP) Expected to Post Quarterly Sales of $6.46 Billion
Equities research analysts forecast that ConocoPhillips (NYSE:COP) will report sales of $6.46 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for ConocoPhillips’ earnings, with the lowest sales estimate coming in at $5.99 billion and the highest estimate coming in at $7.33 billion. ConocoPhillips posted sales of $6.52 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.9%. The business is expected to report its next earnings report on Thursday, October 26th.
On average, analysts expect that ConocoPhillips will report full year sales of $6.46 billion for the current year, with estimates ranging from $26.10 billion to $31.38 billion. For the next financial year, analysts expect that the company will report sales of $27.55 billion per share, with estimates ranging from $24.09 billion to $32.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow ConocoPhillips.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 company posted ($0.79) earnings per share.
COP has been the subject of a number of research reports. Scotiabank set a $54.00 target price on ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada restated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a research note on Thursday, June 15th. Cowen and Company reiterated a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Jefferies Group LLC upgraded ConocoPhillips from a “hold” rating to a “buy” rating and raised their price target for the company from $55.00 to $59.00 in a report on Wednesday, May 17th. Finally, Citigroup Inc. decreased their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $55.18.
In related news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.82% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its stake in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after buying an additional 6 shares during the period. First Command Bank increased its stake 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 buying an additional 199 shares during the last quarter. Gemmer Asset Management LLC increased its stake in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the last quarter. Quadrant Capital Group LLC increased its stake in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC increased its stake in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at 45.65 on Thursday. The company’s market cap is $55.55 billion. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The company has a 50 day moving average of $44.26 and a 200-day moving average of $46.70.
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 paid a $0.265 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.32%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with Analyst Ratings Network's FREE daily email newsletter.