Analysts on Wall Street project that ConocoPhillips (COP) will announce quarterly earnings of $1.61 per share in its forthcoming report, representing a decline of 23% year over year. Revenues are projected to reach $14.47 billion, declining 15.4% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone an upward revision of 7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
In light of this perspective, let's dive into the average estimates of certain ConocoPhillips metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenues- Sales and other operating revenues' stands at $14.68 billion. The estimate indicates a year-over-year change of -11.1%.
The combined assessment of analysts suggests that 'Revenues- Equity in earnings of affiliates' will likely reach $202.85 million. The estimate indicates a year-over-year change of -48.3%.
Analysts' assessment points toward 'Natural gas liquids produced per day - Total company' reaching 409.97 thousands of barrels of oil. The estimate compares to the year-ago value of 402.00 thousands of barrels of oil.
Based on the collective assessment of analysts, 'Natural gas produced per day - Total company' should arrive at . Compared to the current estimate, the company reported in the same quarter of the previous year.
According to the collective judgment of analysts, 'Total production per day' should come in at 2,303.17 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 2,389.00 thousands of barrels of oil equivalent.
Analysts forecast 'Average Sales Price - Natural gas - Total company' to reach $4.32 . Compared to the current estimate, the company reported $5.62 in the same quarter of the previous year.
The average prediction of analysts places 'Crude oil produced per day - Total company' at 1,141.76 thousands of barrels of oil. The estimate compares to the year-ago value of 1,166.00 thousands of barrels of oil.
It is projected by analysts that the 'Average Sales Price - Crude oil - Total company per bbl' will reach $69.95 . The estimate compares to the year-ago value of $71.65 .
The consensus among analysts is that 'Bitumen produced per day' will reach 118.49 thousands of barrels of oil. The estimate compares to the year-ago value of 143.00 thousands of barrels of oil.
Analysts expect 'Crude oil produced per day - Europe, Middle East and North Africa' to come in at 131.39 thousands of barrels of oil. The estimate compares to the year-ago value of 136.00 thousands of barrels of oil.
The collective assessment of analysts points to an estimated 'Natural gas liquids produced per day - Europe, Middle East and North Africa' of 7.97 thousands of barrels of oil. Compared to the present estimate, the company reported 9.00 thousands of barrels of oil in the same quarter last year.
Analysts predict that the 'Natural gas produced per day - Europe, Middle East and North Africa' will reach . The estimate is in contrast to the year-ago figure of .
View all Key Company Metrics for ConocoPhillips here>>>Over the past month, shares of ConocoPhillips have returned -8.4% versus the Zacks S&P 500 composite's +12.8% change. Currently, COP carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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ConocoPhillips (COP): Free Stock Analysis Report
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