Wall Street brokerages predict that ConocoPhillips (NYSE:COP) will report $8.53 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for ConocoPhillips’ earnings. The highest sales estimate is $9.01 billion and the lowest is $7.85 billion. ConocoPhillips posted sales of $7.77 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 9.8%. The firm 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 year, with estimates ranging from $30.05 billion to $39.74 billion. For the next 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 an average based on a survey of sell-side analysts that cover ConocoPhillips.
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, 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 the consensus estimate of $7.70 billion. During the same quarter in the previous year, the company earned ($0.26) earnings per share.
A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada set a $70.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Friday. Piper Jaffray reissued a “buy” rating and set a $63.00 price objective on shares of ConocoPhillips in a report on Wednesday, January 24th. Scotiabank reissued a “buy” rating and set a $64.00 price objective on shares of ConocoPhillips in a report on Monday, April 9th. Finally, Morgan Stanley lifted their price objective on ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips has a consensus rating of “Buy” and an average target price of $60.42.
COP opened at $65.73 on Tuesday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $65.99. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.64 and a current ratio of 1.76. The firm has a market cap of $76,230.12, a price-to-earnings ratio of 109.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22.
ConocoPhillips declared that its board has initiated a share buyback plan on Thursday, February 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the energy producer to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, SVP Andrew D. Lundquist sold 25,000 shares of ConocoPhillips stock in a transaction dated Thursday, March 29th. The stock was 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 of the company’s stock, valued at $1,612,732.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. raised its holdings in ConocoPhillips by 468.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares during the last quarter. Rocky Mountain Advisers LLC raised its holdings in ConocoPhillips by 140.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares during the last quarter. Truewealth LLC bought a new stake in ConocoPhillips during the 4th quarter worth about $138,000. Valeo Financial Advisors LLC bought a new stake in ConocoPhillips during the 3rd quarter worth about $142,000. Finally, Highlander Capital Management LLC raised its holdings in ConocoPhillips by 74.6% during the 3rd quarter. Highlander Capital Management LLC now owns 2,856 shares of the energy producer’s stock worth $143,000 after purchasing an additional 1,220 shares during the last quarter. 71.14% of the stock is owned by institutional investors and hedge funds.
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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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