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Insights Into ConocoPhillips (COP) Q2: Wall Street Projections for Key Metrics

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Analysts on Wall Street project that ConocoPhillips (COP - Free Report) will announce quarterly earnings of $1.36 per share in its forthcoming report, representing a decline of 31.3% year over year. Revenues are projected to reach $14.93 billion, increasing 5.6% from the same quarter last year.

Over the last 30 days, there has been an upward revision of 12.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

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.

It is projected by analysts that the 'Revenues- Sales and other operating revenues' will reach $14.68 billion. The estimate indicates a change of +7.8% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Revenues- Equity in earnings of affiliates' of $259.20 million. The estimate points to a change of -35.7% from the year-ago quarter.

The consensus among analysts is that 'Sales and Other Operating Revenue- Natural gas liquids' will reach $735.48 million. The estimate points to a change of +11.1% from the year-ago quarter.

Based on the collective assessment of analysts, 'Sales and Other Operating Revenue- Natural gas' should arrive at $1.21 billion. The estimate points to a change of +2.8% from the year-ago quarter.

The combined assessment of analysts suggests that 'Sales and Other Operating Revenue- Canada' will likely reach $884.24 million. The estimate points to a change of -6% from the year-ago quarter.

The average prediction of analysts places 'Sales and Other Operating Revenue- Europe, Middle East and North Africa' at $1.37 billion. The estimate indicates a change of +5.6% from the prior-year quarter.

According to the collective judgment of analysts, 'Sales and Other Operating Revenue- Lower 48' should come in at $9.79 billion. The estimate indicates a change of +8.2% from the prior-year quarter.

Analysts' assessment points toward 'Total Production per day' reaching 2,362.71 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 1,945.00 thousands of barrels of oil equivalent.

The consensus estimate for 'Natural gas liquids produced per day - Total company' stands at 399.43 thousands of barrels of oil. The estimate compares to the year-ago value of 295.00 thousands of barrels of oil.

Analysts predict that the '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 forecast 'Crude oil produced per day - Total company' to reach 1,153.05 thousands of barrels of oil. The estimate compares to the year-ago value of 955.00 thousands of barrels of oil.

Analysts expect 'Bitumen produced per day' to come in at 146.05 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 133.00 thousands of barrels of oil.

View all Key Company Metrics for ConocoPhillips here>>>

Shares of ConocoPhillips have experienced a change of -1% in the past month compared to the +0.6% 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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