Over the past 12 fiscal quarters, ConocoPhillips (NYSE:COP) has topped consensus earnings estimates in 8 quarters (66%), missed earnings in 3 quarters (25%), whereas at 1 occasion EPS met analyst expectations. Shares of ConocoPhillips (COP) have dropped -21.8% since the company’s last earnings report.COP last reported earnings on October 25, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $1.36 per share, -91.21% change on the same period last year. That was better than consensus for $1.18. Revenue for the recent quarter stood at $10.17 billion, up 41% on last year and above the $9.66 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $9.68 billion to $15.75 billion, which should be compared with $7.67 billion generated last year. EPS is seen in a range of $0.86 to $1.66, against the $0.54 reported a year ago.
COP’s 50 day simple moving average (SMA 50) price is $70.74 and its 200-day simple moving average (SMA 200) price is $67.55. The company’s stock currently has a total float of 1.15B shares. Its weekly volatility is hovering around 2.28% and felt 3% volatility in price over a month. On the upside, the share price will test short term resistance at around $69.73. On a downside, the stock is likely to find some support, which begins at $68.03. The failure to get near-term support could push it to $66.94.
Separately, it has been reported that multiple insider activity took place at ConocoPhillips (COP). VP & Controller Schwarz Glenda Mae sold 18,882 shares for $17,550 in transaction occurred on 2018/09/10. After making this transaction, the VP & Controller owns a direct stake of 1,343,454 shares, worth $1,212,881, as per the last closing price. On 2018/08/22 Kelly Janet Langford, SVP & General Counsel at COP, dumped 50,000 shares at an average price of $72.37 per share. The selling total is valued at $38,641,613.
Executive Vice President, Wallette Don E Jr. had divested 59,432 shares for $54,926 through a trade on 2018/08/22. Following this activity, the insider holds 4,271,378 shares worth $3,795,936 as of recent close. Wall Street’s most bullish ConocoPhillips (NYSE:COP) analysts are predicting the share price to blow past $93 per share during the next 12 months. The current median share price forecast by them is $82.5, suggesting that the stock could increase 19.37% in that time frame. The average price target of $82.25 calls for a nearly 19.01% increase in the stock price.
It had seen a positive analyst call from BofA/Merrill, which upgraded the stock from Neutral to Buy on October 29. Analysts at Goldman, shed their positive views on October 02 by lowering it fromBuy to Neutral. The stock lost favor of RBC Capital Mkts analysts who expressed their lack of confidence in it using a downgrade from Outperform to Sector Perform on September 20.
When looking at valuations, ConocoPhillips (COP) has a cheap P/E of 15.95x as compared to industry average of 16.71x. Moreover, it trades for 12.94 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 2.52x price/book and 2.24x price/sales. Compared to others, ConocoPhillips is in a different league with regards to profitability, having net margins of 16.6%. To put some perspective around this, the industry’s average net margin is 6.89%. COP’s ROE is 19.2%, which is also considerably better than the industry’s ROE of 6.89%. It’s also very liquid in the near term, with a current ratio of 2. The stock has a debt/capital of 0.47.
ConocoPhillips (NYSE:COP) recently claimed $80.39B as the price has approached $69.11. There came a 4.43% growth with the closing bell on Monday. The stock remained range bound between $67.56 and $69.26. Trading activity significantly weakened as the volume at ready counter decreased to 7,219,921 shares versus 7,226,390 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 6,592,271 shares. The stock is now 38% above against its bear-market low of $50.08 on December 07, 2017. It has retreated -16.1% since it’s 52-week high of $80.24 reached in October. Now the market price is up 33.57% on the year and up 25.91% YTD.