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

Core Viewpoint - Analysts project that ConocoPhillips (COP) will report quarterly earnings of $1.36 per share, reflecting a year-over-year decline of 31.3%, while revenues are expected to reach $14.93 billion, an increase of 5.6% from the same quarter last year [1]. Earnings Estimates - Over the past 30 days, the consensus EPS estimate has been revised upward by 12.8%, indicating a collective reassessment by analysts of their initial forecasts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [3]. Revenue Projections - Analysts estimate that 'Revenues- Sales and other operating revenues' will reach $14.68 billion, representing a 7.8% increase from the prior-year quarter [5]. - The projected 'Revenues- Equity in earnings of affiliates' is estimated at $259.20 million, indicating a decline of 35.7% from the year-ago quarter [5]. Specific Revenue Metrics - 'Sales and Other Operating Revenue- Natural gas liquids' is projected to be $735.48 million, up 11.1% from the previous year [6]. - 'Sales and Other Operating Revenue- Natural gas' is expected to reach $1.21 billion, reflecting a 2.8% increase from the prior-year quarter [6]. - 'Sales and Other Operating Revenue- Canada' is anticipated to be $884.24 million, down 6% from the year-ago quarter [7]. - 'Sales and Other Operating Revenue- Europe, Middle East and North Africa' is projected at $1.37 billion, indicating a 5.6% increase from the prior-year quarter [7]. - 'Sales and Other Operating Revenue- Lower 48' is expected to be $9.79 billion, reflecting an 8.2% increase from the prior-year quarter [8]. Production Estimates - Total production per day is estimated to reach 2,362.71 thousand barrels of oil equivalent, compared to 1,945.00 thousand barrels of oil equivalent from the previous year [8]. - 'Natural gas liquids produced per day - Total company' is projected at 399.43 thousand barrels of oil, up from 295.00 thousand barrels of oil year-over-year [9]. - 'Crude oil produced per day - Total company' is expected to be 1,153.05 thousand barrels of oil, compared to 955.00 thousand barrels of oil from the previous year [10]. - 'Bitumen produced per day' is projected at 146.05 thousand barrels of oil, up from 133.00 thousand barrels of oil year-over-year [10]. Stock Performance - Shares of ConocoPhillips have seen a decline of 1% over the past month, contrasting with a 0.6% increase in the Zacks S&P 500 composite [10].