Analysts Expect ConocoPhillips (COP) to Post $0.70 EPS

Analysts forecast that ConocoPhillips (NYSE:COP) will announce earnings per share of $0.70 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for ConocoPhillips’ earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.81. ConocoPhillips posted earnings per share of ($0.02) in the same quarter last year, which would indicate a positive year over year growth rate of 3,600%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that ConocoPhillips will report full-year earnings of $2.87 per share for the current financial year, with EPS estimates ranging from $2.17 to $3.88. For the next financial year, analysts expect that the company will report earnings of $3.00 per share, with EPS estimates ranging from $2.35 to $3.41. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow ConocoPhillips.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $8.74 billion during the quarter, compared to analysts’ expectations of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same period in the previous year, the firm posted ($0.26) earnings per share.

A number of research analysts have commented on COP shares. Credit Suisse Group initiated coverage on ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price on the stock. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Wednesday, December 13th. Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $58.75.

Several hedge funds have recently added to or reduced their stakes in the company. Beach Investment Management LLC. bought a new position in ConocoPhillips during the second quarter worth $2,035,000. Norinchukin Bank The raised its stake in ConocoPhillips by 2.8% during the second quarter. Norinchukin Bank The now owns 154,696 shares of the energy producer’s stock worth $6,800,000 after buying an additional 4,188 shares during the last quarter. Captrust Financial Advisors bought a new position in ConocoPhillips during the second quarter worth $727,000. Courier Capital LLC raised its stake in ConocoPhillips by 2.7% during the second quarter. Courier Capital LLC now owns 8,227 shares of the energy producer’s stock worth $362,000 after buying an additional 220 shares during the last quarter. Finally, Comerica Securities Inc. raised its stake in ConocoPhillips by 5.0% during the second quarter. Comerica Securities Inc. now owns 64,916 shares of the energy producer’s stock worth $2,854,000 after buying an additional 3,088 shares during the last quarter. 71.27% of the stock is owned by hedge funds and other institutional investors.

Shares of ConocoPhillips (NYSE COP) traded up $0.45 during midday trading on Monday, hitting $54.41. The stock had a trading volume of 234,549 shares, compared to its average volume of 5,798,785. The stock has a market capitalization of $63,380.23, a P/E ratio of -107.92, a price-to-earnings-growth ratio of 1.61 and a beta of 1.33. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64.

ConocoPhillips announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the energy producer to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were given a dividend of $0.285 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 9th. This represents a $1.14 annualized dividend and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio (DPR) is currently -228.00%.

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About ConocoPhillips

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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