ConocoPhillips (NYSE:COP) Q4 2023 Earnings Conference Call February 8, 2024 12:00 PM ET Company Participants Phil Gresh - Vice President, Investor Relations Ryan Lance - Chairman and CEO Tim Leach - Advisor, CEO Bill Bullock - Executive Vice President and CFO Dominic Macklon - Executive Vice President, Strategy, Sustainability and Technology Nick Olds - Executive Vice President, Lower 48 Andy O'Brien - Senior Vice President, Global Operations Kirk Johnson - Senior Vice President, Lower 48, Assets and Operat ...

For the quarter ended December 2023, ConocoPhillips (COP) reported revenue of $15.31 billion, down 20.5% over the same period last year. EPS came in at $2.40, compared to $2.71 in the year-ago quarter.The reported revenue represents a surprise of +5.76% over the Zacks Consensus Estimate of $14.47 billion. With the consensus EPS estimate being $2.08, the EPS surprise was +15.38%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

ConocoPhillips (COP) reported fourth-quarter 2023 adjusted earnings per share of $2.40, beating the Zacks Consensus Estimate of $2.08. The bottom line, however, declined from the prior-year quarter’s $2.71 per share.One of the world’s leading independent oil and gas producers headquartered in Houston, TX, ConocoPhillips’ quarterly revenues of $15.3 billion decreased from the fourth-quarter 2022 figure of $19.3 billion. The top line, however, beat the Zacks Consensus Estimate of $14.5 billion.Higher oil equi ...

Shares of ConocoPhillips COP, +0.72% tacked on 0.4% in premarket trading Thursday, after the oil exploration and production company beat fourth-quarter profit and revenue expectations as 2023 production reached record levels. Net income fell to $3.01 billion, or $2.52 a share, from $3.25 billion, or $2.61 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.40 were well above the FactSet consensus of $2.09. Revenue declined 20.5% to $15.31 billion but was above t ...

HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share, compared with fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share. Excluding special items, fourth-quarter 2023 adjusted earnings were $2.9 billion, or $2.40 per share, compared with fourth-quarter 2022 adjusted earnings of $3.4 billion, or $2.71 per share. Special items for the current quarter were comprised of a benefit related to the reversal of a tax reserve, ...

ConocoPhillips Quarterly Earnings Outlook Analyst Q4 Estimates Q3 2023 Q4 2022 Revenue $15.56 billion $14.87 billion $19.26 billion Diluted Earnings Per Share (EPS) $2.12 $2.33 $2.61 Net Income $2.52 billion $2.8 billion $3.25 billionSource: VisibleAlpha Key Metric ConocoPhillips derives about 30% of its revenue from natural gas production and marketing, and gas prices have plummeted in the past year. Compared with a year ago, Visible Alpha expects the firm will report the average price it received for n ...

Earnings Report and Estimate Trend - ConocoPhillips (COP) is scheduled to report Q4 2023 earnings on Feb 8, with a Zacks Consensus Estimate of $2.11 per share, indicating a significant decline from the year-ago quarter [1][2] - The Zacks Consensus Estimate for Q4 revenues is $15.2 billion, reflecting a 21.2% decrease compared to the previous year [2] - COP's earnings have beaten the Zacks Consensus Estimate twice and missed twice in the trailing four quarters, with an average surprise of 4.6% [1] Commodity Prices and Production - Average West Texas Intermediate crude prices for October, November, and December were $85.64, $77.69, and $71.90 per barrel, respectively, lower than the year-ago quarter but still above the $70 mark [3] - Natural gas prices in Q4 were also lower year over year [3] - Daily oil equivalent production volumes are expected to increase by 6.8%, driven by higher activities in Lower 48, potentially offsetting the negative impact of lower commodity prices [3] Earnings Whispers and Stock Considerations - COP's Earnings ESP is -2.02%, and it carries a Zacks Rank 5 (Strong Sell), indicating a low likelihood of an earnings beat [4] - Western Midstream Partners LP (WES) has an Earnings ESP of +4.01% and a Zacks Rank 2, with Q4 earnings estimated at 78 cents per share [5] - Cheniere Energy, Inc. (LNG) has an Earnings ESP of +5.55% and a Zacks Rank 3, with Q4 earnings estimated at $2.70 per share [5] - Oceaneering International Inc (OII) has an Earnings ESP of +5.88% and a Zacks Rank 1, with Q4 earnings estimated at 23 cents per share, showing significant year-over-year improvement [5][6]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:ConocoPhillips (COP) is an energy company. The Zacks Consensus Estimate for its current year earnings has been revised 6% downward over the last 60 days.Zurich Insurance Group AG (ZURVY) is an insurance company. The Zacks Consensus Estimate for its current year earnings has been revised 4.3% downward over the last 60 days.Kolibri Global Energy Inc. (KGEI) is an energy exploration and production company. The Zacks Consensus Estimate fo ...

In the latest trading session, ConocoPhillips (COP) closed at $111.60, marking a -0.56% move from the previous day. This change lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.Heading into today, shares of the energy company had lost 3.31% over the past month, lagging the Oils-Energy sector's loss of 2.82% and the S&P 500's gain of 2.5% in that time.Analysts and investors alike will be keeping a close eye on the performance of Conoco ...

Union Jack Oil PLC (AIM:UJO), the UK-based exploration and production company, is set to expand its operations into the United States through a strategic alliance with Reach Oil & Gas Inc. This partnership will primarily focus on numerous drilling and production ventures in Oklahoma, recognized as one of the top hydrocarbon-producing regions in the US, Encompassing exploration, drilling, development, and potential production, the collaboration is nearing completion with joint venture agreements. Chairman Da ...