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Countdown to ConocoPhillips (COP) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
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The upcoming report from ConocoPhillips (COP - Free Report) is expected to reveal quarterly earnings of $1.40 per share, indicating a decline of 21.4% compared to the year-ago period. Analysts forecast revenues of $14.64 billion, representing an increase of 7.6% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 9.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some ConocoPhillips metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenues- Sales and other operating revenues' to come in at $14.25 billion. The estimate indicates a year-over-year change of +9.3%.
According to the collective judgment of analysts, 'Revenues- Equity in earnings of affiliates' should come in at $264.33 million. The estimate indicates a change of -40.1% from the prior-year quarter.
The consensus estimate for 'Revenues- Other Income' stands at $115.32 million. The estimate indicates a change of -7% from the prior-year quarter.
The average prediction of analysts places 'Sales and Other Operating Revenue- Alaska' at $1.32 billion. The estimate points to a change of -10.6% from the year-ago quarter.
The combined assessment of analysts suggests that 'Sales and Other Operating Revenue- Europe, Middle East and North Africa' will likely reach $1.39 billion. The estimate suggests a change of +4.1% year over year.
It is projected by analysts that the 'Sales and Other Operating Revenue- Lower 48' will reach $9.85 billion. The estimate suggests a change of +8.5% year over year.
Analysts forecast 'Total production per day' to reach 2,323.54 thousands of barrels of oil equivalent. The estimate compares to the year-ago value of 1,917.00 thousands of barrels of oil equivalent.
The consensus among analysts is that 'Natural gas produced per day - Total company' will reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
Analysts' assessment points toward 'Natural gas liquids produced per day - Total company' reaching 409.75 thousands of barrels of oil. Compared to the current estimate, the company reported 310.00 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Average Sales Price - Crude oil - Total company per bbl' of $65.81 . Compared to the current estimate, the company reported $76.77 in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Crude oil produced per day - Total company' should arrive at 1,133.37 thousands of barrels of oil. Compared to the current estimate, the company reported 957.00 thousands of barrels of oil in the same quarter of the previous year.
Analysts predict that the 'Average Sales Price - Natural gas - Total company' will reach $4.30 . The estimate compares to the year-ago value of $4.42 .
Shares of ConocoPhillips have experienced a change of -5.6% in the past month compared to the +2.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), COP is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Countdown to ConocoPhillips (COP) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
The upcoming report from ConocoPhillips (COP - Free Report) is expected to reveal quarterly earnings of $1.40 per share, indicating a decline of 21.4% compared to the year-ago period. Analysts forecast revenues of $14.64 billion, representing an increase of 7.6% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 9.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some ConocoPhillips metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenues- Sales and other operating revenues' to come in at $14.25 billion. The estimate indicates a year-over-year change of +9.3%.
According to the collective judgment of analysts, 'Revenues- Equity in earnings of affiliates' should come in at $264.33 million. The estimate indicates a change of -40.1% from the prior-year quarter.
The consensus estimate for 'Revenues- Other Income' stands at $115.32 million. The estimate indicates a change of -7% from the prior-year quarter.
The average prediction of analysts places 'Sales and Other Operating Revenue- Alaska' at $1.32 billion. The estimate points to a change of -10.6% from the year-ago quarter.
The combined assessment of analysts suggests that 'Sales and Other Operating Revenue- Europe, Middle East and North Africa' will likely reach $1.39 billion. The estimate suggests a change of +4.1% year over year.
It is projected by analysts that the 'Sales and Other Operating Revenue- Lower 48' will reach $9.85 billion. The estimate suggests a change of +8.5% year over year.
Analysts forecast 'Total production per day' to reach 2,323.54 thousands of barrels of oil equivalent. The estimate compares to the year-ago value of 1,917.00 thousands of barrels of oil equivalent.
The consensus among analysts is that 'Natural gas produced per day - Total company' will reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
Analysts' assessment points toward 'Natural gas liquids produced per day - Total company' reaching 409.75 thousands of barrels of oil. Compared to the current estimate, the company reported 310.00 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Average Sales Price - Crude oil - Total company per bbl' of $65.81 . Compared to the current estimate, the company reported $76.77 in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Crude oil produced per day - Total company' should arrive at 1,133.37 thousands of barrels of oil. Compared to the current estimate, the company reported 957.00 thousands of barrels of oil in the same quarter of the previous year.
Analysts predict that the 'Average Sales Price - Natural gas - Total company' will reach $4.30 . The estimate compares to the year-ago value of $4.42 .
View all Key Company Metrics for ConocoPhillips here>>>Shares of ConocoPhillips have experienced a change of -5.6% in the past month compared to the +2.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), COP is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .