ConocoPhillips (COP) Expected to Post Quarterly Sales of $8.50 Billion
Equities research analysts predict that ConocoPhillips (NYSE:COP) will post sales of $8.50 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ConocoPhillips’ earnings, with estimates ranging from $7.85 billion to $8.97 billion. ConocoPhillips posted sales of $7.77 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.4%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that ConocoPhillips will report full year sales of $8.50 billion for the current year, with estimates ranging from $30.05 billion to $39.74 billion. For the next year, analysts anticipate that the business will post sales of $33.93 billion per share, with estimates ranging from $31.64 billion to $36.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ConocoPhillips.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. 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 prior year, the business earned ($0.26) earnings per share.
In other news, Director Charles E. Bunch bought 2,000 shares of ConocoPhillips stock in a transaction on Monday, December 11th. The stock was acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. WFG Advisors LP increased its holdings in shares of ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares during the last quarter. Genesee Valley Trust Co. increased its holdings in shares of ConocoPhillips by 0.6% in the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock valued at $312,000 after purchasing an additional 45 shares during the last quarter. Girard Partners LTD. increased its holdings in shares of ConocoPhillips by 0.6% in the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after purchasing an additional 49 shares during the last quarter. First City Capital Management Inc. increased its holdings in shares of ConocoPhillips by 1.4% in the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 75 shares during the last quarter. Finally, Whalerock Point Partners LLC increased its holdings in shares of ConocoPhillips by 1.2% in the second quarter. Whalerock Point Partners LLC now owns 8,300 shares of the energy producer’s stock valued at $365,000 after purchasing an additional 100 shares during the last quarter. 69.66% of the stock is owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (NYSE:COP) opened at $55.63 on Thursday. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $65,847.36, a PE ratio of 76.63, a PEG ratio of 1.86 and a beta of 1.32.
ConocoPhillips declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the energy producer to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is presently -212.00%.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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