Zacks: Analysts Expect ConocoPhillips (NYSE:COP) Will Post Quarterly Sales of $14.31 Billion

Wall Street brokerages expect ConocoPhillips (NYSE:COP) to report sales of $14.31 billion for the current quarter, Zacks reports. Four analysts have made estimates for ConocoPhillips’ earnings, with estimates ranging from $12.54 billion to $15.61 billion. ConocoPhillips reported sales of $6.05 billion during the same quarter last year, which indicates a positive year over year growth rate of 136.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 3rd.

According to Zacks, analysts expect that ConocoPhillips will report full year sales of $45.91 billion for the current year, with estimates ranging from $43.92 billion to $48.00 billion. For the next year, analysts anticipate that the business will report sales of $51.87 billion, with estimates ranging from $48.60 billion to $55.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ConocoPhillips.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, November 2nd. The energy producer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.24. ConocoPhillips had a net margin of 12.18% and a return on equity of 11.87%. The company had revenue of $11.62 billion during the quarter, compared to analyst estimates of $11.34 billion. During the same quarter last year, the business posted ($0.31) EPS.

Several research analysts have recently issued reports on COP shares. Raymond James boosted their price objective on shares of ConocoPhillips from $90.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 26th. The Goldman Sachs Group downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $76.00 target price for the company. in a research note on Monday, October 11th. KeyCorp increased their price objective on shares of ConocoPhillips from $81.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. Scotiabank restated a “sector perform” rating and set a $90.00 target price on shares of ConocoPhillips in a report on Thursday. Finally, Societe Generale cut shares of ConocoPhillips from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a report on Wednesday, November 10th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Buy” and an average price target of $83.26.

In related news, Director Jody Freeman sold 3,420 shares of the company’s stock in a transaction on Wednesday, December 29th. The stock was sold at an average price of $72.84, for a total transaction of $249,112.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 9,200 shares of the stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $74.64, for a total value of $686,688.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,889 shares of company stock worth $10,680,170. Corporate insiders own 0.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Staley Capital Advisers Inc. acquired a new stake in ConocoPhillips during the second quarter worth $217,000. Commerce Bank lifted its holdings in shares of ConocoPhillips by 1.3% in the 2nd quarter. Commerce Bank now owns 101,832 shares of the energy producer’s stock valued at $6,201,000 after purchasing an additional 1,309 shares during the last quarter. Quadrant Capital Group LLC increased its position in ConocoPhillips by 7.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,588 shares of the energy producer’s stock valued at $219,000 after acquiring an additional 246 shares during the period. Jaffetilchin Investment Partners LLC acquired a new position in ConocoPhillips in the 2nd quarter valued at about $504,000. Finally, Quest Capital Management Inc. ADV acquired a new position in ConocoPhillips in the 2nd quarter valued at about $201,000. 78.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of COP stock traded up $3.12 on Friday, hitting $86.74. The company’s stock had a trading volume of 7,944,908 shares, compared to its average volume of 8,362,701. The stock has a market capitalization of $114.41 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 0.66 and a beta of 1.61. ConocoPhillips has a fifty-two week low of $39.70 and a fifty-two week high of $86.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.93 and a quick ratio of 1.83. The firm’s fifty day moving average price is $73.82 and its 200-day moving average price is $66.28.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Monday, January 3rd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, December 31st. ConocoPhillips’s dividend payout ratio is currently 58.04%.

About ConocoPhillips

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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