Zacks: Analysts Anticipate ConocoPhillips (NYSE:COP) Will Post Quarterly Sales of $6.84 Billion

Equities research analysts expect ConocoPhillips (NYSE:COP) to post sales of $6.84 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for ConocoPhillips’ earnings. The lowest sales estimate is $5.88 billion and the highest is $7.80 billion. ConocoPhillips reported sales of $4.81 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 42.2%. The firm is expected to issue its next quarterly earnings results on Thursday, April 29th.

On average, analysts expect that ConocoPhillips will report full year sales of $29.66 billion for the current financial year, with estimates ranging from $24.98 billion to $33.01 billion. For the next year, analysts expect that the company will post sales of $31.04 billion, with estimates ranging from $28.37 billion to $32.73 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover ConocoPhillips.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Monday, February 1st. The energy producer reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. During the same period last year, the firm posted $0.76 EPS.

COP has been the topic of several analyst reports. The Goldman Sachs Group started coverage on shares of ConocoPhillips in a report on Wednesday, February 3rd. They issued a “buy” rating on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of ConocoPhillips from $39.00 to $50.00 in a report on Wednesday, December 9th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $56.00 in a report on Tuesday, January 12th. Morgan Stanley upped their target price on shares of ConocoPhillips from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, November 17th. Finally, BMO Capital Markets raised shares of ConocoPhillips to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, January 11th. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $51.32.

Large investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $25,000. TFC Financial Management acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $28,000. Regent Peak Wealth Advisors LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $29,000. Klaas Financial Asset Advisors LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $31,000. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 72.87% of the company’s stock.

ConocoPhillips stock traded up $0.05 on Thursday, hitting $50.93. The company’s stock had a trading volume of 371,426 shares, compared to its average volume of 11,478,711. The firm has a market cap of $54.63 billion, a P/E ratio of -45.03, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85. The company has a quick ratio of 2.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $44.71 and a 200-day moving average price of $38.84. ConocoPhillips has a one year low of $20.84 and a one year high of $56.94.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 12th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.38%. ConocoPhillips’s dividend payout ratio is 47.91%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Earnings History and Estimates for ConocoPhillips (NYSE:COP)

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