ConocoPhillips Rises Ahead of November Earnings Report
Shares gained 1.53% in the latest session, while consensus forecasts call for higher quarterly earnings and revenue.
ConocoPhillips shares rose 1.53% to $127.06 in the latest session, beating the S&P 500’s 0.2% gain. The Dow and Nasdaq each added 0.04%.
The daily advance followed a weaker month. Shares fell 8.78%, compared with a 2.32% decline in the Oils-Energy sector and a 0.35% drop in the S&P 500.
The company is scheduled to report results on November 5. Consensus estimates call for earnings of $2.58 a share, up 60.25% from the year-earlier quarter, and revenue of $17.3 billion, up 11.47%.
For the full year, analysts expect earnings of $10.54 a share and revenue of $70.12 billion. Those forecasts represent increases of 71.1% and 13.93%, respectively, from last year.
The consensus quarterly earnings estimate fell 0.02% over the past 30 days, according to Zacks. ConocoPhillips had a forward price-to-earnings ratio of 11.87, below the industry average of 19.26. Its PEG ratio was 1.32, compared with the industry average of 1.69.
This article was produced with the help of AI technology.
Source: Yahoo Finance
