Zacks: Brokerages Anticipate ConocoPhillips (COP) Will Post Quarterly Sales of $8.53 Billion

Wall Street analysts predict that ConocoPhillips (NYSE:COP) will report sales of $8.53 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ConocoPhillips’ earnings, with estimates ranging from $7.85 billion to $9.01 billion. ConocoPhillips reported sales of $7.77 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 9.8%. The company is scheduled to issue its next earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that ConocoPhillips will report full year sales of $34.04 billion for the current fiscal year, with estimates ranging from $30.05 billion to $39.74 billion. For the next financial year, analysts expect that the company will post sales of $34.05 billion per share, with estimates ranging from $31.90 billion to $36.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover ConocoPhillips.

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

COP has been the topic of a number of research analyst reports. Scotiabank restated a “buy” rating and issued a $64.00 price target on shares of ConocoPhillips in a research note on Monday, April 9th. UBS initiated coverage on shares of ConocoPhillips in a research note on Wednesday, March 7th. They issued a “buy” rating and a $60.00 price target on the stock. Barclays set a $71.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, March 4th. Argus reduced their price target on shares of ConocoPhillips from $65.00 to $54.54 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Piper Jaffray restated a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $61.92.

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the completion of the transaction, the senior vice president now 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 can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 1,500 shares in the last quarter. Rocky Mountain Advisers LLC grew its position in ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares during the period. Truewealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $138,000. First Personal Financial Services grew its position in ConocoPhillips by 111.9% in the 4th quarter. First Personal Financial Services now owns 2,649 shares of the energy producer’s stock valued at $145,000 after purchasing an additional 1,399 shares during the period. Finally, Delpha Capital Management LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $149,000. Hedge funds and other institutional investors own 71.14% of the company’s stock.

Shares of COP traded down $0.58 during mid-day trading on Tuesday, reaching $65.73. The company had a trading volume of 4,120,177 shares, compared to its average volume of 6,883,654. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $67.30. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. The company has a market cap of $78,015.47, a P/E ratio of 109.73, a PEG ratio of 1.94 and a beta of 1.23.

ConocoPhillips declared that its board has initiated a stock repurchase 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. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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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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Earnings History and Estimates for ConocoPhillips (NYSE:COP)

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