ConocoPhillips (NYSE: COP), the Houston-based oil and gas giant, is scheduled to discuss its third quarter 2009 financial results in a conference call Wednesday at 11:00 AM ET. You can catch the live webcast of the call on the company's website.
During the three months that ended in September, ConocoPhillips, entered a joint venture in Abu Dhabi, upgraded its inventory software, and declared a quarterly dividend. Analysts surveyed by Thomson Reuters expect this integrated energy company to report that earnings plunged 71.7% from a year ago to $0.94 per share. Revenue for the quarter is expected to be 49.5% lower to $35.4 billion, due to weak demand and low prices.
So far, analysts expect some sequential growth in EPS and revenue in the fourth quarter, but the forecast for the full year is for earnings of $3.48 per share (-67.4%) on $140.1 billion (-41.8%) in revenue. ConocoPhillips has topped earnings expectations in recent quarters, though, by as much as 26 cents per share.
Unlike competitors Chevron Corp. (NYSE: CVX) and Exxon Mobil Corp. (NYSE: XOM), Conoco's long-term EPS growth forecast is in negative territory, but better than the sector average and the S&P 500. Its earnings multiple is 10x, and the First Call consensus recommendation remains to hold COP. Yet the Motley Fool featured it as a stock "poised to pop."
Shares are about 14% higher than three months ago, but still more than five bucks shy of the 52-week high of $57.43.
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Reader Comments (Page 1 of 1)
10-27-2009 @ 6:32PM
RICHARD said...
wncg claims the high for last 12 months to be 7.00.- their charts show 1.00.-either someone is bad at math or they are lying.-please check it out.-thank you very much.------------------richard