Economy

ConocoPhillips (COP) Expected to Post Q4 2017 Earnings of $0.36 Per Share

TRADEMARK VIOLATION NOTICE: "Barclays PLC Boosts ConocoPhillips (COP) Price Target to $59.00" was first reported by StockNewsTimes and is the sole property of of StockNewsTimes. The firm has "Buy" rating given on Wednesday, May 17 by Jefferies.

Analysts await ConocoPhillips (NASDAQ:COP) to report earnings on Oct, 26 for the fiscal quarter ending Sep 2017. Vetr raised shares of ConocoPhillips from a "sell" rating to a "hold" rating and set a $42.73 price objective for the company in a research note on Monday, September 12th. Bank of America Corporation upgraded shares of ConocoPhillips from a "neutral" rating to a "buy" rating and increased their target price for the stock from $51.00 to $58.00 in a research report on Friday, July 28th. On Friday, July 28 the stock rating was maintained by Jefferies with "Buy". McMorran James D sold $431,590 worth of stock. ConocoPhillips presently has an average rating of Hold and an average target price of $54.76. Mitchell Sinkler & Starr sold 7,195 shares as Conocophillips (COP)'s stock declined 0.06%. Argent Tru Communication holds 0.47% of its portfolio in ConocoPhillips (NYSE:COP) for 38,613 shares. The rating was initiated by Bernstein with "Outperform" on Friday, August 7. The California State Teachers Retirement System holds 651,371 shares with $27.49 million value, up from 339,936 last quarter. The stock's market capitalization is $63.23 billion. The stock closed the regular trading session at $49.96 yesterday, compared to the closing price of $50.99 the previous day - a change of -2.02 percent. ConocoPhillips has $77 highest and $31 lowest target. ConocoPhillips (NYSE:COP) has risen 9.50% since October 27, 2016 and is uptrending. The energy producer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%.

They expect $0.09 EPS, up 833.33% or $0.75 from last year's $-0.66 per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a dividend of $0.265 per share. More interesting news about ConocoPhillips (NYSE:COP) were released by: Fool.com and their article: "3 Things to Watch When ConocoPhillips Reports Q3 Earnings" published on October 25, 2017 as well as Fool.com's news article titled: "The secret sauce for another upside surprise" with publication date: October 23, 2017. This represents a $1.00 annualized dividend and a yield of 2.41%.

Other institutional investors have also recently modified their holdings of the company. That's after the US oil giant posted an adjusted profit of $198 million, or $0.16 per share, which was twice the $0.08 per share that analysts anticipated and $0.02 per share ahead of last quarter. The firm now has an "overweight" rating on the energy producer's stock. First Command Bank increased its stake in shares of ConocoPhillips by 9.4% during the second quarter. The fund owned 919,707 shares of the company's stock after buying an additional 11,492 shares during the period. Krilogy Financial LLC increased its stake in shares of ConocoPhillips by 48.6% during the second quarter. The Minnesota-based Foundry Limited Liability has invested 0.33% in ConocoPhillips (NYSE:COP). Guinness Asset Management Ltd purchased a new position in shares of ConocoPhillips during the second quarter valued at approximately $10,726,000. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer's stock worth $100,000 after buying an additional 6 shares in the last quarter. Finally, Advantage Investment Management LLC increased its position in ConocoPhillips by 65.3% during the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer's stock worth $121,000 after buying an additional 958 shares in the last quarter.

ConocoPhillips, like all USA companies, is looking to further cut costs, and has managed to reduce its production and operating expenses by 20 percent in Q3 compared to the same quarter last year, and cut its adjusted operating costs by 15 percent year on year. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). 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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