ConocoPhillips (COP) reported first-quarter 2024 adjusted earnings per share of $2.03, which beat the Zacks Consensus Estimate of $1.99. The bottom line, however, declined from the prior-year quarter’s level of $2.38.One of the world’s leading independent oil and gas producers headquartered in Houston, TX, ConocoPhillips’ quarterly revenues of $14.5 billion decreased from $15.5 billion reported a year ago. The top line also missed the Zacks Consensus Estimate of $14.7 billion.The better-than-expected quarte ...

ConocoPhillips (COP) came out with quarterly earnings of $2.03 per share, beating the Zacks Consensus Estimate of $1.99 per share. This compares to earnings of $2.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.01%. A quarter ago, it was expected that this energy company would post earnings of $2.08 per share when it actually produced earnings of $2.40, delivering a surprise of 15.38%.Over the last four quarters, the comp ...

Financial Performance - Total revenues and other income for Q1 2024 were $14.476 billion, a decrease from $15.517 billion in Q1 2023[1] - Net income for Q1 2024 was $2.551 billion, down from $2.920 billion in Q1 2023[1] - Sales and other operating revenues in Q1 2024 were $13.848 billion, compared to $14.811 billion in Q1 2023[1] - Equity in earnings of affiliates remained stable at $421 million in Q1 2024, compared to $499 million in Q1 2023[1] - Purchased commodities expenses decreased to $5.334 billion in Q1 2024 from $6.138 billion in Q1 2023[1] - Net income for the full year 2023 was $10,957 million, with Q4 contributing $3,007 million[7] - Corporate and Other Earnings (Loss) for 2024 Q1 is $(171) million, compared to $(821) million for full year 2023[12] - Net interest expense for 2024 Q1 is $(93) million, compared to $(360) million for full year 2023[12] - Corporate G&A expenses for 2024 Q1 is $(105) million, compared to $(357) million for full year 2023[12] Income Before Taxes by Region - Income before income taxes in Alaska for Q1 2024 was $468 million, down from $567 million in Q1 2023[1] - Lower 48 income before income taxes decreased to $1.766 billion in Q1 2024 from $2.378 billion in Q1 2023[1] - Europe, Middle East, and North Africa income before income taxes was $1.081 billion in Q1 2024, compared to $1.244 billion in Q1 2023[1] - Asia Pacific income before income taxes slightly increased to $517 million in Q1 2024 from $582 million in Q1 2023[1] Segment Earnings - Alaska segment earnings for Q3 2023 were $448 million, contributing to a total of $1,778 million for the full year[3] - Lower 48 segment earnings for Q3 2023 were $1,781 million, with a special item of $100 million, resulting in adjusted earnings of $1,681 million[3] - Canada segment earnings for Q3 2023 were $186 million, with a special item of $92 million, leading to adjusted earnings of $94 million[3] - Asia Pacific segment earnings for Q3 2023 were $465 million, with a special item of $52 million, resulting in adjusted earnings of $413 million[3] - Consolidated earnings for Q3 2023 were $2,798 million, with special items totaling $197 million, leading to adjusted earnings of $2,601 million[3] Tax Rates - The effective income tax rate for Q1 2024 was 33.0%, slightly lower than 36.0% in Q1 2023[2] - The adjusted effective income tax rate for the Lower 48 segment in Q3 2023 was 22.3%[4] - The adjusted effective income tax rate for the Asia Pacific segment in Q3 2023 was 19.1%[4] - The consolidated adjusted effective income tax rate for Q3 2023 was 36.0%[4] Special Items - Special items in the Lower 48 segment for Q3 2023 included a $94 million gain on asset sales[5] - Special items in the Asia Pacific segment for Q3 2023 included a $52 million income tax benefit[5] Cash and Investments - Cash and cash equivalents decreased from $6,974 million in Q1 2023 to $5,574 million in Q1 2024, a decline of 20.1%[6] - Short-term investments dropped significantly from $1,635 million in Q1 2023 to $487 million in Q1 2024, a decrease of 70.2%[6] - Total current assets decreased from $16,116 million in Q1 2023 to $13,721 million in Q1 2024, a reduction of 14.9%[6] - Net properties, plants, and equipment increased from $65,090 million in Q1 2023 to $69,907 million in Q1 2024, a growth of 7.4%[6] - Total liabilities decreased slightly from $43,658 million in Q1 2023 to $46,023 million in Q1 2024, an increase of 5.4%[6] - Retained earnings grew from $54,593 million in Q1 2023 to $60,895 million in Q1 2024, an increase of 11.5%[6] - Total equity increased from $47,783 million in Q1 2023 to $49,325 million in Q1 2024, a growth of 3.2%[6] - Long-term debt decreased from $15,266 million in Q1 2023 to $17,304 million in Q1 2024, an increase of 13.3%[6] - Inventories increased from $1,258 million in Q1 2023 to $1,443 million in Q1 2024, a growth of 14.7%[6] - Accounts and notes receivable remained relatively stable, decreasing slightly from $5,280 million in Q1 2023 to $5,444 million in Q1 2024, a decline of 3.1%[6] Cash Flow and Capital Expenditures - Total cash flow from operating activities for 2023 was $19,965 million, with Q4 generating $5,263 million[7] - Capital expenditures and investments for 2023 totaled $11,248 million, with Q4 spending $2,883 million[7] - Net cash used in investing activities for 2023 was $12,000 million, with Q4 utilizing $5,852 million[7] - Repurchase of company common stock in 2023 amounted to $5,400 million, with Q4 repurchasing $1,100 million[7] - Dividends paid in 2023 totaled $5,583 million, with Q4 paying $1,408 million[7] - Total capital expenditures and investments for Q1 2024 were $2,916 million[7] - Net cash provided by operating activities for Q1 2024 was $4,985 million[7] - Net cash used in investing activities for Q1 2024 was $2,141 million[7] - Repurchase of company common stock in Q1 2024 amounted to $1,325 million[7] Production and Realized Prices - Total production for 2023 Q3 was 1,806 MBOED, with crude oil production at 927 MBD (consolidated: 914 MBD, equity affiliates: 13 MBD)[8] - Natural gas production in 2023 Q3 reached 3,141 MMCFD (consolidated: 1,889 MMCFD, equity affiliates: 1,252 MMCFD)[8] - WTI crude oil price averaged $82.26/BBL in 2023 Q3, while Brent dated averaged $86.76/BBL[8] - Bitumen production in 2023 Q3 was 64 MBD, with an average realized price of $57.85/BBL[8] - NGL production in 2023 Q3 was 291 MBD (consolidated: 283 MBD, equity affiliates: 8 MBD), with an average realized price of $23.01/BBL[8] - Natural gas realized price in 2023 Q3 was $5.06/MCF (consolidated: $3.29/MCF, equity affiliates: $7.73/MCF)[8] - Consolidated crude oil production for 2023 was 923 MBD, with a slight increase to 928 MBD projected for 2024[10] - Lower 48 crude oil production in 2023 was 569 MBD, expected to decrease to 553 MBD in 2024[10] - Canada's crude oil production in 2023 was 9 MBD, with a significant increase to 18 MBD projected for 2024[10] - Total NGL production for 2023 was 287 MBD, with a slight decrease to 279 MBD expected in 2024[10] - Bitumen production in Canada for 2023 was 81 MBD, with a substantial increase to 129 MBD projected for 2024[10] - Total natural gas production for 2023 was 3,135 MMCFD, with an increase to 3,302 MMCFD expected in 2024[10] - Lower 48 natural gas production in 2023 was 1,457 MMCFD, expected to slightly increase to 1,479 MMCFD in 2024[10] - Total consolidated operations production for 2023 was 1,602 MBOED, with an increase to 1,667 MBOED projected for 2024[10] - Equity affiliates' total production for 2023 was 224 MBOED, with an increase to 235 MBOED expected in 2024[10] - Total production (including equity affiliates) for 2023 was 1,826 MBOED, with an increase to 1,902 MBOED projected for 2024[10] - Consolidated crude oil average realized price for 2024 Q1 is $78.67 per barrel, compared to $78.97 in 2023[11] - NGL average realized price for 2024 Q1 is $24.25 per barrel, up from $22.82 in 2023[11] - Bitumen average realized price for 2024 Q1 is $44.30 per barrel, compared to $42.15 in 2023[11] - Natural gas average realized price for 2024 Q1 is $5.02 per MCF, down from $5.69 in 2023[11] Exploration and Depreciation Expenses - Total exploration expenses for 2023 Q3 were $92 million, with U.S. exploration expenses at $29 million and international at $63 million[9] - DD&A expenses for 2023 Q3 totaled $2,095 million, with Lower 48 contributing $1,489 million and Alaska $259 million[9] - Total exploration expenses for 2024 Q1 YTD were $112 million, with U.S. exploration expenses at $66 million and international at $46 million[9] - DD&A expenses for 2024 Q1 YTD totaled $2,211 million, with Lower 48 contributing $1,432 million and Alaska $324 million[9] Debt and Equity - Total debt for 2024 Q1 is $18,417 million with a debt-to-capital ratio of 27%[12] - Equity for 2024 Q1 is $49,325 million, compared to $49,279 million in 2023 Q4[12] - Capitalized interest for 2024 Q1 is $50 million, compared to $153 million for full year 2023[12]

Investors are always looking for stocks that are poised to beat at earnings season and ConocoPhillips (COP) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because ConocoPhillips is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good ...

We're currently in the midst of first-quarter earnings season, with some S&P 500 energy companies yet to release results. With robust oil prices, the overall energy industry landscape proved advantageous for exploration and production endeavors during the quarter.  Q1 Oil PriceThe pricing dynamics of oil were remarkable in the initial quarter of this year. According to data from the U.S. Energy Information Administration, the average West Texas Intermediate crude prices per barrel were $74.15, $77.25, and $ ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

ConocoPhillips (COP) is set to report first-quarter 2024 earnings on May 2, before the opening bell.In the last reported quarter, the company’s adjusted earnings per share of $2.40 beat the Zacks Consensus Estimate of $2.08. Higher oil equivalent production volumes have led to better-than-expected quarterly results. The positives were partially offset by lower average realized oil equivalent prices.COP’s earnings missed the Zacks Consensus Estimate in three of the trailing four quarters and beat the same on ...

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bjdlzx ConocoPhillips (NYSE:COP) recently guided to shareholder returns of $9 billion. Management also stated during the fourth quarter conference call that the figure was a starting point as it would be dependent on commodity prices and the effects of those prices on the business. ConocoPhillips management has long emphasized shareholder returns. That strategy is fine as far as it goes. But there are others out there that also manage to grow in different ways while having the same shareholder emphasis. ...

ConocoPhillips (COP) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this energy company have returned +2.5% over the past month versus the Zacks S&P 500 composite's -4.2% change. The Zacks Oil and Gas - Integrated - United States industry, to which ConocoPhillips belongs, has gained 3.5% over this period. Now the key question is: Where could the stock be headed in the near t ...