Equities research analysts predict that ConocoPhillips (NYSE:COP) will report sales of $9.49 billion for the current quarter, Zacks reports. Three analysts have made estimates for ConocoPhillips’ earnings, with the lowest sales estimate coming in at $8.99 billion and the highest estimate coming in at $9.89 billion. ConocoPhillips posted sales of $7.20 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 31.8%. The company is expected to announce its next quarterly earnings results on Thursday, October 25th.
According to Zacks, analysts expect that ConocoPhillips will report full year sales of $37.18 billion for the current year, with estimates ranging from $35.33 billion to $38.36 billion. For the next fiscal year, analysts anticipate that the company will post sales of $39.15 billion per share, with estimates ranging from $37.23 billion to $42.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow ConocoPhillips.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 26th. The energy producer reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.01. The firm had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.79 billion. ConocoPhillips had a return on equity of 10.26% and a net margin of 13.26%. During the same period in the previous year, the company posted $0.14 EPS.
Several research firms have recently commented on COP. BMO Capital Markets boosted their price target on ConocoPhillips from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Morgan Stanley boosted their price target on ConocoPhillips from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group reissued a “hold” rating and issued a $80.00 price target on shares of ConocoPhillips in a research report on Wednesday. Mizuho reissued a “hold” rating on shares of ConocoPhillips in a research report on Tuesday, July 24th. Finally, Macquarie lowered ConocoPhillips from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 26th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $71.32.
Shares of COP traded up $0.36 during trading hours on Thursday, hitting $69.77. The company had a trading volume of 4,418,117 shares, compared to its average volume of 6,746,359. The firm has a market cap of $83.60 billion, a price-to-earnings ratio of 116.28, a PEG ratio of 1.88 and a beta of 1.20. The company has a current ratio of 1.75, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48. ConocoPhillips has a one year low of $42.26 and a one year high of $73.75.
ConocoPhillips declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 12th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the energy producer to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, July 23rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, July 20th. ConocoPhillips’s dividend payout ratio is currently 190.00%.
In other ConocoPhillips news, SVP Janet Langford Kelly sold 49,496 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $71.00, for a total transaction of $3,514,216.00. Following the sale, the senior vice president now owns 41,211 shares in the company, valued at approximately $2,925,981. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Glenda Mae Schwarz sold 6,763 shares of the business’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $65.04, for a total value of $439,865.52. Following the sale, the vice president now owns 10,182 shares in the company, valued at approximately $662,237.28. The disclosure for this sale can be found here. Corporate insiders own 0.88% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. IMA Wealth Inc. purchased a new stake in ConocoPhillips during the 2nd quarter valued at about $100,000. Acropolis Investment Management LLC purchased a new stake in ConocoPhillips during the 2nd quarter valued at about $107,000. Centaurus Financial Inc. purchased a new stake in ConocoPhillips during the 1st quarter valued at about $104,000. Adviser Investments LLC grew its stake in ConocoPhillips by 139.4% during the 2nd quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock valued at $136,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Lucia Wealth Services LLC grew its stake in ConocoPhillips by 541.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock valued at $157,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 71.47% of the company’s stock.
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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