ConocoPhillips (COP) Expected to Post Earnings of $0.70 Per Share

Equities analysts expect that ConocoPhillips (NYSE:COP) will report earnings per share (EPS) of $0.70 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for ConocoPhillips’ earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.81. ConocoPhillips reported earnings per share of ($0.02) during the same quarter last year, which would suggest a positive year-over-year growth rate of 3,600%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 1st.

According to Zacks, analysts expect that ConocoPhillips will report full year earnings of $2.87 per share for the current fiscal year, with EPS estimates ranging from $2.17 to $3.88. For the next year, analysts expect that the business will post 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 sell-side research firms that that provide coverage for ConocoPhillips.

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

COP has been the topic of a number of analyst reports. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, December 13th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a research report on Friday, December 22nd. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price on the stock. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research report on Wednesday, February 14th. Finally, Barclays increased their target price on shares of ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $58.75.

ConocoPhillips (NYSE COP) opened at $55.06 on Monday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $61.31. The stock has a market cap of $64,672.27, a P/E ratio of -110.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.33. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56.

ConocoPhillips announced that its Board of Directors has authorized a share buyback program on Thursday, February 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the energy producer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Monday, February 12th were issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, February 9th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is -228.00%.

Several institutional investors have recently modified their holdings of the company. WFG Advisors LP lifted its stake in ConocoPhillips by 0.4% in the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares during the last quarter. First City Capital Management Inc. lifted its stake in ConocoPhillips by 1.4% in the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 75 shares during the last quarter. Waters Parkerson & CO. LLC lifted its stake in ConocoPhillips by 1.0% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 12,043 shares of the energy producer’s stock valued at $529,000 after purchasing an additional 125 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its stake in ConocoPhillips by 1.5% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 8,734 shares of the energy producer’s stock valued at $383,000 after purchasing an additional 130 shares during the last quarter. Finally, Courier Capital LLC lifted its stake in ConocoPhillips by 2.7% in the 2nd quarter. Courier Capital LLC now owns 8,227 shares of the energy producer’s stock valued at $362,000 after purchasing an additional 220 shares during the last quarter. 71.27% of the stock is owned by institutional investors.

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ConocoPhillips Company Profile

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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