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ConocoPhillips (COP) Gears Up for Q4 Earnings: What's in Store?
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ConocoPhillips (COP - Free Report) is set to report fourth-quarter 2021 results on Feb 3, before the opening bell.
In the last reported quarter, ConocoPhillips beat the Zacks Consensus Estimate for the bottom line on increased production volumes due to the Concho acquisition and rising realized commodity prices. ConocoPhillips surpassed the Zacks Consensus Estimate in the last four reported quarters, the average being 13%, as shown in the chart below.
Let’s see how things have shaped up prior to this announcement.
Trend in Estimate Revision
The Zacks Consensus Estimate for its fourth-quarter earnings per share of $2.20 has witnessed four downward and upward revisions in the past 30 days. The estimated figure suggests a massive improvement over the prior-year reported number.
The consensus estimate for fourth-quarter revenues of $14.1 billion indicates a 132.6% improvement from the year-ago reported figure.
Factors to Consider
The pricing scenario of oil in the fourth quarter of 2021 has improved drastically from the prior-year period, thanks to the rolling out of coronavirus vaccines. The pricing environment of natural gas has also improved drastically in the December quarter as compared to the year-ago comparable period. Thus, the rise in oil and natural gas prices is likely to have aided ConocoPhillips’ upstream business.
The Zacks Consensus Estimate for COP’s fourth-quarter earnings from Lower 48, representing the largest segment based on production, is pegged at $1,687 million, suggesting a turnaround from the year-ago quarter loss of $242 million.
Earnings Whispers
Our proven model does not indicate an earnings beat for ConocoPhillips this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: COP’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ConocoPhillips currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
PBF Energy is scheduled to release fourth-quarter results on Feb 10. The Zacks Consensus Estimate for PBF’s earnings is pegged at 51 cents per share, suggesting an increase of 111.3% from the prior-year reported figure.
Viper Energy Partners (VNOM - Free Report) has an Earnings ESP of +7.16% and a Zacks Rank of 3.
Viper Energy is scheduled to report fourth-quarter results on Feb 22. The Zacks Consensus Estimate for Viper Energy’s earnings is pegged at 19 cents per unit, suggesting an improvement of 58.3% as compared to the prior-year reported figure.
Exxon Mobil Corporation (XOM - Free Report) has an Earnings ESP of +1.87% and a Zacks Rank #1.
ExxonMobil is scheduled to release fourth-quarter earnings on Feb 1. The Zacks Consensus Estimate for ExxonMobil’s earnings is pegged at $1.96 per share, suggesting a massive year-over-year improvement.
Image: Bigstock
ConocoPhillips (COP) Gears Up for Q4 Earnings: What's in Store?
ConocoPhillips (COP - Free Report) is set to report fourth-quarter 2021 results on Feb 3, before the opening bell.
In the last reported quarter, ConocoPhillips beat the Zacks Consensus Estimate for the bottom line on increased production volumes due to the Concho acquisition and rising realized commodity prices. ConocoPhillips surpassed the Zacks Consensus Estimate in the last four reported quarters, the average being 13%, as shown in the chart below.
Let’s see how things have shaped up prior to this announcement.
Trend in Estimate Revision
The Zacks Consensus Estimate for its fourth-quarter earnings per share of $2.20 has witnessed four downward and upward revisions in the past 30 days. The estimated figure suggests a massive improvement over the prior-year reported number.
The consensus estimate for fourth-quarter revenues of $14.1 billion indicates a 132.6% improvement from the year-ago reported figure.
Factors to Consider
The pricing scenario of oil in the fourth quarter of 2021 has improved drastically from the prior-year period, thanks to the rolling out of coronavirus vaccines. The pricing environment of natural gas has also improved drastically in the December quarter as compared to the year-ago comparable period. Thus, the rise in oil and natural gas prices is likely to have aided ConocoPhillips’ upstream business.
The Zacks Consensus Estimate for COP’s fourth-quarter earnings from Lower 48, representing the largest segment based on production, is pegged at $1,687 million, suggesting a turnaround from the year-ago quarter loss of $242 million.
Earnings Whispers
Our proven model does not indicate an earnings beat for ConocoPhillips this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: COP’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ConocoPhillips currently carries a Zacks Rank #3.
Stocks to Consider
Here are some firms that you may want to consider as these have the right combination of elements to post an earnings beat in the upcoming quarterly reports:
PBF Energy Inc. (PBF - Free Report) has an Earnings ESP of +24.81% and is a Zacks #3 Ranked player. You can see the complete list of today’s Zacks #1 Rank stocks here.
PBF Energy is scheduled to release fourth-quarter results on Feb 10. The Zacks Consensus Estimate for PBF’s earnings is pegged at 51 cents per share, suggesting an increase of 111.3% from the prior-year reported figure.
Viper Energy Partners (VNOM - Free Report) has an Earnings ESP of +7.16% and a Zacks Rank of 3.
Viper Energy is scheduled to report fourth-quarter results on Feb 22. The Zacks Consensus Estimate for Viper Energy’s earnings is pegged at 19 cents per unit, suggesting an improvement of 58.3% as compared to the prior-year reported figure.
Exxon Mobil Corporation (XOM - Free Report) has an Earnings ESP of +1.87% and a Zacks Rank #1.
ExxonMobil is scheduled to release fourth-quarter earnings on Feb 1. The Zacks Consensus Estimate for ExxonMobil’s earnings is pegged at $1.96 per share, suggesting a massive year-over-year improvement.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.