ConocoPhillips (NYSE:COP) Expected to Post Quarterly Sales of $6.46 Billion
Equities research analysts forecast that ConocoPhillips (NYSE:COP) will report $6.46 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for ConocoPhillips’ earnings, with the highest sales estimate coming in at $7.33 billion and the lowest estimate coming in at $5.99 billion. ConocoPhillips reported sales of $6.52 billion during the same quarter last year, which would suggest a negative year over year growth rate of 0.9%. The firm is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that ConocoPhillips will report full year sales of $6.46 billion for the current fiscal year, with estimates ranging from $26.10 billion to $31.38 billion. For the next financial year, analysts expect that the business will post 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 analysts that follow ConocoPhillips.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same period in the prior year, the business earned ($0.79) earnings per share.
Several equities research analysts recently issued reports on COP shares. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. BidaskClub raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday. Sanford C. Bernstein downgraded shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Bank of America Corporation downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and cut their target price for the stock from $68.00 to $67.00 in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $55.18.
Shares of ConocoPhillips (NYSE:COP) traded down 0.40% during trading on Thursday, hitting $44.79. 4,206,885 shares of the stock were exchanged. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The firm has a 50 day moving average price of $44.17 and a 200 day moving average price of $46.50. The firm has a market capitalization of $54.51 billion, a P/E ratio of 16.90 and a beta of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a yield of 2.37%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.
In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.82% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Raymond James Trust N.A. raised its stake in ConocoPhillips by 1.6% in the first quarter. Raymond James Trust N.A. now owns 44,496 shares of the energy producer’s stock valued at $2,218,000 after buying an additional 703 shares during the last quarter. Creative Planning raised its stake in ConocoPhillips by 3.7% in the first quarter. Creative Planning now owns 178,625 shares of the energy producer’s stock valued at $8,908,000 after buying an additional 6,422 shares during the last quarter. Burke & Herbert Bank & Trust Co. raised its stake in ConocoPhillips by 3.1% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 13,504 shares of the energy producer’s stock valued at $674,000 after buying an additional 405 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services raised its stake in ConocoPhillips by 6.3% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 89,903 shares of the energy producer’s stock valued at $4,483,000 after buying an additional 5,340 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its stake in ConocoPhillips by 0.8% in the first quarter. Sheets Smith Wealth Management now owns 13,657 shares of the energy producer’s stock valued at $681,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
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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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