For the quarter ended December 2023, ConocoPhillips (COP - Free Report) reported revenue of $15.31 billion, down 20.5% over the same period last year. EPS came in at $2.40, compared to $2.71 in the year-ago quarter.
The reported revenue represents a surprise of +5.76% over the Zacks Consensus Estimate of $14.47 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +15.38%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ConocoPhillips performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Production per day: 1902 millions of barrels of oil equivalent versus the eight-analyst average estimate of 1890.72 millions of barrels of oil equivalent.
- Natural gas produced per day - Total company: 3161 millions of cubic feet versus 3233.93 millions of cubic feet estimated by seven analysts on average.
- Natural gas liquids produced per day - Total company: 301 millions of barrels of oil versus the seven-analyst average estimate of 300.44 millions of barrels of oil.
- Crude oil produced per day - Total company: 949 millions of barrels of oil versus 994.24 millions of barrels of oil estimated by six analysts on average.
- Average Sale Price - Natural gas - Total company: $5.41 versus $5.04 estimated by five analysts on average.
- Average Sales Price - Crude oil - Total company per bbl: $80.80 versus $78.19 estimated by five analysts on average.
- Average Sale Price - Natural gas - Lower 48 per Mcf: $1.93 compared to the $2.21 average estimate based on four analysts.
- Crude oil produced per day - Europe, Middle East and North Africa: 111 millions of barrels of oil versus 107 millions of barrels of oil estimated by four analysts on average.
- Natural gas liquids produced per day - Europe, Middle East and North Africa: 4 millions of barrels of oil versus 3.72 millions of barrels of oil estimated by four analysts on average.
- Revenues- Sales and other operating revenues: $14.73 billion versus $14.20 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -20.6% change.
- Revenues- Equity in earnings of affiliates: $421 million versus the three-analyst average estimate of $363.06 million. The reported number represents a year-over-year change of -26.1%.
- Revenues- Other Income: $129 million versus the two-analyst average estimate of $127.49 million. The reported number represents a year-over-year change of +34.4%.
View all Key Company Metrics for ConocoPhillips here>>>Shares of ConocoPhillips have returned +1% over the past month versus the Zacks S&P 500 composite's +6.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended December 2023, ConocoPhillips (COP - Free Report) reported revenue of $15.31 billion, down 20.5% over the same period last year. EPS came in at $2.40, compared to $2.71 in the year-ago quarter.
The reported revenue represents a surprise of +5.76% over the Zacks Consensus Estimate of $14.47 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +15.38%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ConocoPhillips performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Production per day: 1902 millions of barrels of oil equivalent versus the eight-analyst average estimate of 1890.72 millions of barrels of oil equivalent.
- Natural gas produced per day - Total company: 3161 millions of cubic feet versus 3233.93 millions of cubic feet estimated by seven analysts on average.
- Natural gas liquids produced per day - Total company: 301 millions of barrels of oil versus the seven-analyst average estimate of 300.44 millions of barrels of oil.
- Crude oil produced per day - Total company: 949 millions of barrels of oil versus 994.24 millions of barrels of oil estimated by six analysts on average.
- Average Sale Price - Natural gas - Total company: $5.41 versus $5.04 estimated by five analysts on average.
- Average Sales Price - Crude oil - Total company per bbl: $80.80 versus $78.19 estimated by five analysts on average.
- Average Sale Price - Natural gas - Lower 48 per Mcf: $1.93 compared to the $2.21 average estimate based on four analysts.
- Crude oil produced per day - Europe, Middle East and North Africa: 111 millions of barrels of oil versus 107 millions of barrels of oil estimated by four analysts on average.
- Natural gas liquids produced per day - Europe, Middle East and North Africa: 4 millions of barrels of oil versus 3.72 millions of barrels of oil estimated by four analysts on average.
- Revenues- Sales and other operating revenues: $14.73 billion versus $14.20 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -20.6% change.
- Revenues- Equity in earnings of affiliates: $421 million versus the three-analyst average estimate of $363.06 million. The reported number represents a year-over-year change of -26.1%.
- Revenues- Other Income: $129 million versus the two-analyst average estimate of $127.49 million. The reported number represents a year-over-year change of +34.4%.
View all Key Company Metrics for ConocoPhillips here>>>Shares of ConocoPhillips have returned +1% over the past month versus the Zacks S&P 500 composite's +6.5% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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