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ConocoPhillips (COP) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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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%.
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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ConocoPhillips (COP) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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.