Analysts Expect ConocoPhillips (COP) to Post $0.06 Earnings Per Share

Wall Street analysts predict that ConocoPhillips (NYSE:COP) will report $0.06 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for ConocoPhillips’ earnings, with estimates ranging from ($0.11) to $0.24. ConocoPhillips reported earnings per share of ($0.79) in the same quarter last year, which would indicate a positive year-over-year growth rate of 107.6%. The company is expected to report its next quarterly earnings results on Thursday, July 27th.

According to Zacks, analysts expect that ConocoPhillips will report full year earnings of $0.57 per share for the current fiscal year, with EPS estimates ranging from ($0.40) to $1.50. For the next financial year, analysts anticipate that the firm will post earnings of $1.90 per share, with EPS estimates ranging from $0.60 to $3.52. Zacks’ EPS averages are a mean average based on a survey of research firms that cover ConocoPhillips.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.05. ConocoPhillips had a negative net margin of 5.05% and a negative return on equity of 5.92%. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter in the prior year, the firm posted ($0.95) EPS.

A number of research analysts have commented on COP shares. TheStreet raised ConocoPhillips from a “d+” rating to a “c” rating in a report on Monday, March 6th. Scotiabank set a $53.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Monday, March 27th. Credit Suisse Group set a $60.00 target price on ConocoPhillips and gave the stock a “neutral” rating in a report on Thursday, March 30th. Cowen and Company reaffirmed an “outperform” rating and set a $59.00 target price on shares of ConocoPhillips in a report on Thursday, March 30th. Finally, Vetr downgraded ConocoPhillips from a “strong-buy” rating to a “buy” rating in a report on Friday, March 31st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $56.80.

Shares of ConocoPhillips (COP) traded up 0.04% during midday trading on Friday, reaching $44.83. The company’s stock had a trading volume of 8,447,873 shares. ConocoPhillips has a 1-year low of $38.80 and a 1-year high of $53.17. The company’s 50-day moving average price is $45.94 and its 200 day moving average price is $48.15. The firm’s market capitalization is $55.46 billion.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently -95.50%.

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In other news, VP James D. Mcmorran sold 9,091 shares of ConocoPhillips stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of COP. Financial Management Professionals Inc. boosted its position in shares of ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares during the period. Gemmer Asset Management LLC boosted its position in shares of ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares during the period. Northwest Quadrant Wealth Management LLC boosted its position in shares of ConocoPhillips by 0.5% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 5,412 shares of the energy producer’s stock valued at $255,000 after buying an additional 25 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of ConocoPhillips by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,780 shares of the energy producer’s stock valued at $238,000 after buying an additional 33 shares during the period. Finally, Alpha Windward LLC boosted its position in shares of ConocoPhillips by 0.9% in the first quarter. Alpha Windward LLC now owns 5,564 shares of the energy producer’s stock valued at $277,000 after buying an additional 52 shares during the period. Institutional investors own 68.04% of the company’s stock.

ConocoPhillips Company Profile

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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