ConocoPhillips (COP) set to announce its earnings on February 8, 2024

18 January 2024 - 256 views

Forecasts suggest an EPS of $2.42, down 10.7% year-over-year (YoY), and revenues expected at $15.35 billion, a 20.33% decrease YoY. Recent adjustments in analyst estimates for COP reflect the company’s short-term business trends. While the market sentiment appears negative, with a Forward P/E ratio of 10.76, it is trading at a discount relative to the industry’s average of 11.89.

[Sentiment: Negative]

ConocoPhillips runs a streamlined operation characterized by low production expenses and robust cash flow. For 2023, the company anticipates generating approximately $22 billion in operating cash flow, with plans to distribute about half of this amount to its shareholders. The dividend strategy of ConocoPhillips includes a fixed quarterly dividend complemented by a variable dividend that reflects the company’s performance. In 2023, the total dividend paid by the company amounted to $4.61 per share, resulting in a yield of over 4% based on its present stock price.

Over the past month, COP’s shares have seen a decline of 6.74%, a steeper fall than the Oils-Energy sector’s -2.83% and the S&P 500’s gain of +1.2%. The company is scheduled to report its earnings on February 8, 2024. Forecasts suggest an EPS of $2.42, down 10.7% year-over-year (YoY), and revenues expected at $15.35 billion, a 20.33% decrease YoY. Recent adjustments in analyst estimates for COP reflect the company’s short-term business trends. While the market sentiment appears negative, with a Forward P/E ratio of 10.76, it is trading at a discount relative to the industry’s average of 11.89. Additionally, its PEG ratio stands at 0.59, signifying the anticipated rate of earnings growth.