ConocoPhillips (COP) Expected to Announce Quarterly Sales of $9.23 Billion

Wall Street analysts expect ConocoPhillips (NYSE:COP) to report $9.23 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for ConocoPhillips’ earnings, with the lowest sales estimate coming in at $8.52 billion and the highest estimate coming in at $9.72 billion. ConocoPhillips posted sales of $8.88 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The business is scheduled to report its next quarterly earnings report on Thursday, July 26th.

According to Zacks, analysts expect that ConocoPhillips will report full year sales of $37.63 billion for the current fiscal year, with estimates ranging from $35.27 billion to $39.80 billion. For the next financial year, analysts anticipate that the business will report sales of $39.01 billion per share, with estimates ranging from $35.28 billion to $41.40 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover ConocoPhillips.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 26th. The energy producer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.68 billion. During the same quarter in the previous year, the firm earned ($0.02) EPS.

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 9th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Thursday, April 19th. Mizuho assumed coverage on shares of ConocoPhillips in a research report on Friday, June 8th. They issued a “neutral” rating and a $73.00 price objective on the stock. Scotiabank reaffirmed a “buy” rating and issued a $64.00 price objective on shares of ConocoPhillips in a research report on Monday, April 9th. Finally, Barclays set a $71.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $66.90.

Shares of ConocoPhillips stock opened at $67.78 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $71.71. The company has a market capitalization of $79.31 billion, a PE ratio of 112.97, a PEG ratio of 1.83 and a beta of 1.22.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 190.00%.

In related news, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction on Thursday, March 29th. The shares were 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 directly owns 27,353 shares in the company, valued at approximately $1,612,732.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Janet Langford Kelly sold 504 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $71.00, for a total transaction of $35,784.00. Following the completion of the transaction, the senior vice president now owns 41,211 shares of the company’s stock, valued at $2,925,981. The disclosure for this sale can be found here. Over the last quarter, insiders sold 309,052 shares of company stock valued at $20,965,534. Company insiders own 0.88% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cynosure Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth $1,508,000. HighPoint Advisor Group LLC raised its position in ConocoPhillips by 9.8% during the first quarter. HighPoint Advisor Group LLC now owns 9,228 shares of the energy producer’s stock worth $641,000 after acquiring an additional 824 shares during the period. Chesapeake Wealth Management acquired a new position in ConocoPhillips during the first quarter worth $320,000. Wealth Alliance Advisory Group LLC raised its position in ConocoPhillips by 283.3% during the first quarter. Wealth Alliance Advisory Group LLC now owns 37,042 shares of the energy producer’s stock worth $2,196,000 after acquiring an additional 27,377 shares during the period. Finally, Suntrust Banks Inc. raised its position in ConocoPhillips by 31.9% during the first quarter. Suntrust Banks Inc. now owns 261,258 shares of the energy producer’s stock worth $15,488,000 after acquiring an additional 63,226 shares during the period. Hedge funds and other institutional investors own 70.80% of the company’s stock.

About ConocoPhillips

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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Earnings History and Estimates for ConocoPhillips (NYSE:COP)

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