Wall Street analysts forecast that ConocoPhillips (NYSE:COP) will report sales of $6.46 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ConocoPhillips’ earnings, with estimates ranging from $5.99 billion to $7.33 billion. ConocoPhillips reported sales of $6.52 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 0.9%. The company is scheduled to report 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 year, with estimates ranging from $26.68 billion to $31.38 billion. For the next year, analysts expect that the company will post sales of $27.64 billion per share, with estimates ranging from $24.20 billion to $32.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for ConocoPhillips.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The firm had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the business earned ($0.79) earnings per share.
COP has been the topic of several recent analyst reports. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Saturday, July 1st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 15th. Citigroup Inc. lowered their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Cowen and Company set a $55.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $58.00 in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and an average target price of $54.19.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intl Fcstone Inc. purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $721,000. Gs Investments Inc. purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at $1,029,000. Lord Abbett & CO. LLC grew its position in shares of ConocoPhillips by 66.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,671,428 shares of the energy producer’s stock valued at $117,436,000 after purchasing an additional 1,067,428 shares in the last quarter. Kimelman & Baird LLC grew its position in shares of ConocoPhillips by 842.9% during the 2nd quarter. Kimelman & Baird LLC now owns 108,900 shares of the energy producer’s stock valued at $4,787,000 after purchasing an additional 97,350 shares in the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of ConocoPhillips by 1.0% during the 2nd quarter. Sentry Investment Management LLC now owns 99,210 shares of the energy producer’s stock valued at $4,361,000 after purchasing an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 68.99% of the company’s stock.
ConocoPhillips (COP) opened at 46.51 on Friday. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The stock has a 50 day moving average price of $44.48 and a 200 day moving average price of $45.66. The firm’s market cap is $56.60 billion.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.28%. ConocoPhillips’s dividend payout ratio (DPR) is currently -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.
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