Published On: Thu, Sep 8th, 2016

Brokers Offer Predictions for ConocoPhillips’ FY2017 Earnings (COP)

ConocoPhillips (NYSE:COP) – Equities research analysts at Jefferies Group lifted their FY2017 earnings per share estimates for shares of ConocoPhillips in a research report issued on Wednesday. Jefferies Group analyst J. Gammel now anticipates that the brokerage will post earnings per share of $0.40 for the year, up from their prior forecast of $0.38. Jefferies Group has a “Hold” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for ConocoPhillips’ FY2018 earnings at $2.51 EPS.
Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank AG reiterated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 16th. Bank of America Corp. restated a “buy” rating and set a $71.00 price objective on shares of ConocoPhillips in a research report on Friday, June 3rd. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, July 13th. Credit Suisse Group AG restated a “neutral” rating on shares of ConocoPhillips in a research report on Tuesday. Finally, Simmons restated a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.57.
ConocoPhillips (NYSE:COP) traded up 4.34% on Thursday, hitting $43.28. 10,713,363 shares of the stock were exchanged. The firm’s market cap is $53.60 billion. ConocoPhillips has a 12 month low of $31.05 and a 12 month high of $57.24. The company has a 50-day moving average of $41.46 and a 200 day moving average of $42.21.

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ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by $0.18. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same period in the prior year, the business earned $0.07 EPS. ConocoPhillips’s quarterly revenue was down 35.6% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, July 25th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. ConocoPhillips’s payout ratio is currently -17.57%.
In other news, Director Arjun N. Murti bought 6,500 shares of the stock in a transaction dated Monday, August 1st. The stock was purchased at an average price of $39.72 per share, for a total transaction of $258,180.00. Following the acquisition, the director now owns 19,000 shares of the company’s stock, valued at $754,680. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Ellen Desanctis bought 5,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $40.50 per share, with a total value of $202,500.00. Following the acquisition, the vice president now directly owns 22,010 shares in the company, valued at approximately $891,405. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by company insiders.
About ConocoPhillips
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

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