ConocoPhillips (NYSE:COP) is scheduled to post its quarterly earnings results before the market opens on Thursday, April 26th. Analysts expect ConocoPhillips to post earnings of $0.63 per share for the quarter.
ConocoPhillips (NYSE:COP) last announced its 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. The business had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. During the same period last year, the firm posted ($0.26) earnings per share. On average, analysts expect ConocoPhillips to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of COP opened at $66.42 on Thursday. The company has a market capitalization of $77,205.02, a P/E ratio of 110.70, a P/E/G ratio of 1.93 and a beta of 1.23. 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 has a 1-year low of $42.26 and a 1-year high of $67.30.
ConocoPhillips announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the energy producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other 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 value of $1,474,000.00. Following the transaction, the senior vice president now owns 27,353 shares in the company, valued at $1,612,732.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research note on Wednesday, January 10th. Edward Jones cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays set a $71.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, March 4th. Piper Jaffray reiterated a “buy” rating and set a $63.00 price target on shares of ConocoPhillips in a research report on Wednesday, January 24th. Finally, Macquarie initiated coverage on shares of ConocoPhillips in a research report on Wednesday, January 17th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $60.42.
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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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