$9.86 Billion in Sales Expected for ConocoPhillips (COP) This Quarter

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Brokerages expect ConocoPhillips (NYSE:COP) to report $9.86 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for ConocoPhillips’ earnings. The highest sales estimate is $10.65 billion and the lowest is $9.00 billion. ConocoPhillips posted sales of $9.24 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.7%. The company is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, July 30th.

According to Zacks, analysts expect that ConocoPhillips will report full-year sales of $39.87 billion for the current fiscal year, with estimates ranging from $37.34 billion to $44.20 billion. For the next fiscal year, analysts forecast that the company will post sales of $41.82 billion, with estimates ranging from $34.96 billion to $57.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover ConocoPhillips.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.08. The firm had revenue of $10.06 billion for the quarter, compared to analyst estimates of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same quarter in the prior year, the company earned $0.96 earnings per share.

Several research firms have issued reports on COP. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Wednesday, March 13th. Piper Jaffray Companies restated a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, February 12th. Morgan Stanley upped their price objective on ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, Credit Suisse Group downgraded ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and a consensus price target of $78.60.

Several institutional investors have recently bought and sold shares of COP. Pineno Levin & Ford Asset Management Inc. grew its position in ConocoPhillips by 0.4% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock worth $2,357,000 after buying an additional 150 shares in the last quarter. First Commonwealth Financial Corp PA grew its position in ConocoPhillips by 2.8% during the fourth quarter. First Commonwealth Financial Corp PA now owns 5,454 shares of the energy producer’s stock worth $340,000 after buying an additional 150 shares in the last quarter. Fishman Jay A Ltd. MI lifted its stake in ConocoPhillips by 0.4% during the fourth quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock worth $2,386,000 after purchasing an additional 152 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in ConocoPhillips by 1.5% during the fourth quarter. Arete Wealth Advisors LLC now owns 10,832 shares of the energy producer’s stock worth $675,000 after purchasing an additional 158 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in ConocoPhillips by 0.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock worth $2,284,000 after purchasing an additional 160 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

NYSE:COP traded up $0.38 on Monday, hitting $59.88. The company’s stock had a trading volume of 6,070,690 shares, compared to its average volume of 6,969,044. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $67.68 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.41 and a beta of 1.06. ConocoPhillips has a one year low of $56.75 and a one year high of $80.24.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is 26.93%.

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 tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; 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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