Equities analysts expect ConocoPhillips (NYSE:COP) to announce $8.93 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for ConocoPhillips’ earnings, with estimates ranging from $8.01 billion to $9.72 billion. ConocoPhillips posted sales of $8.88 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The business is scheduled to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that ConocoPhillips will report full year sales of $36.31 billion for the current financial year, with estimates ranging from $32.33 billion to $39.80 billion. For the next fiscal year, analysts forecast that the firm will post sales of $39.01 billion per share, with estimates ranging from $35.28 billion to $41.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover ConocoPhillips.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.22. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. The company had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.68 billion. During the same period in the prior year, the firm earned ($0.02) earnings per share.
COP has been the subject of a number of analyst reports. Royal Bank of Canada set a $70.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research report on Friday, April 13th. JPMorgan Chase & Co. boosted their price objective on ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 9th. Scotiabank reaffirmed a “buy” rating and issued a $64.00 price target on shares of ConocoPhillips in a report on Monday, April 9th. Zacks Investment Research downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Friday, April 20th. Finally, UBS initiated coverage on ConocoPhillips in a report on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $63.50.
Shares of ConocoPhillips stock traded down $0.67 on Monday, reaching $68.45. 6,404,440 shares of the company were exchanged, compared to its average volume of 6,993,898. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $71.71. The company has a market cap of $82.06 billion, a PE ratio of 114.08, a P/E/G ratio of 2.11 and a beta of 1.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.71 and a current ratio of 1.86.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 14th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 190.00%.
ConocoPhillips announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the energy producer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $58.96, for a total value of $1,474,000.00. Following the completion of the transaction, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jody Freeman sold 3,716 shares of the stock in a transaction on Monday, April 30th. The stock was sold at an average price of $65.55, for a total value of $243,583.80. The disclosure for this sale can be found here. Insiders sold 252,793 shares of company stock valued at $17,011,452 in the last quarter. 0.88% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. BDO Wealth Advisors LLC grew its holdings in ConocoPhillips by 8.1% in the first quarter. BDO Wealth Advisors LLC now owns 13,678 shares of the energy producer’s stock valued at $811,000 after purchasing an additional 1,028 shares during the last quarter. MEMBERS Trust Co grew its holdings in ConocoPhillips by 33.7% in the first quarter. MEMBERS Trust Co now owns 6,654 shares of the energy producer’s stock valued at $395,000 after purchasing an additional 1,678 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in shares of ConocoPhillips by 6,780.7% during the first quarter. Summit Trail Advisors LLC now owns 307,293 shares of the energy producer’s stock valued at $307,000 after acquiring an additional 302,827 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of ConocoPhillips by 7.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 111,813 shares of the energy producer’s stock valued at $6,629,000 after acquiring an additional 8,132 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its stake in shares of ConocoPhillips by 36.0% during the first quarter. WINTON GROUP Ltd now owns 72,984 shares of the energy producer’s stock valued at $4,327,000 after acquiring an additional 19,330 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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