$9.86 Billion in Sales Expected for ConocoPhillips (COP) This Quarter

Wall Street analysts expect ConocoPhillips (NYSE:COP) to report sales of $9.86 billion for the current quarter, according to Zacks. Three analysts have issued estimates for ConocoPhillips’ earnings, with estimates ranging from $9.00 billion to $10.65 billion. ConocoPhillips posted sales of $9.24 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The company is expected to announce its next earnings report before the market opens on Tuesday, July 30th.

On average, analysts expect that ConocoPhillips will report full year sales of $39.87 billion for the current fiscal year, with estimates ranging from $37.34 billion to $44.20 billion. For the next fiscal year, analysts anticipate that the company will post sales of $41.82 billion, with estimates ranging from $34.96 billion to $57.69 billion. Zacks’ 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 Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. The company had revenue of $10.06 billion during the quarter, compared to analyst estimates of $9.16 billion. During the same period last year, the firm posted $0.96 EPS.

A number of equities analysts have issued reports on the stock. ValuEngine lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Credit Suisse Group lowered ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a report on Wednesday, May 1st. Piper Jaffray Companies restated a “hold” rating on shares of ConocoPhillips in a report on Tuesday, February 12th. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Wednesday, March 13th. Finally, Morgan Stanley set a $77.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, January 29th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $78.60.

COP traded up $0.38 during trading on Monday, reaching $59.88. 6,070,690 shares of the company’s stock were exchanged, compared to its average volume of 7,170,190. ConocoPhillips has a 1 year low of $56.75 and a 1 year high of $80.24. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $67.68 billion, a PE ratio of 13.22, a P/E/G ratio of 1.51 and a beta of 1.06.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.93%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Norges Bank acquired a new position in ConocoPhillips in the 4th quarter valued at about $738,471,000. Oregon Public Employees Retirement Fund increased its holdings in ConocoPhillips by 6,059.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,910,095 shares of the energy producer’s stock worth $127,000 after purchasing an additional 7,781,667 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in ConocoPhillips during the 1st quarter worth about $195,526,000. Renaissance Technologies LLC increased its holdings in ConocoPhillips by 289.0% during the 1st quarter. Renaissance Technologies LLC now owns 3,731,213 shares of the energy producer’s stock worth $249,021,000 after purchasing an additional 2,772,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in ConocoPhillips by 28.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock worth $710,012,000 after purchasing an additional 2,532,290 shares in the last quarter. 73.71% of the stock is owned by institutional investors.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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