ConocoPhillips (COP) Q4 Earnings Preview: What You Should Know Beyond the Headline Estimates

Analysts on Wall Street project that ConocoPhillips (COP) will announce quarterly earnings of $1.89 per share in its forthcoming report, representing a decline of 21.3% year over year. Revenues are projected to reach $14.47 billion, declining 5.4% from the same quarter last year.The consensus EPS estimate for the quarter has been revised 15% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.Bearing this in mind, let's now explore the average estimates of specific ConocoPhillips metrics that are commonly monitored and projected by Wall Street analysts.Based on the collective assessment of analysts, 'Revenues- Sales and other operating revenues' should arrive at $13.94 billion. The estimate indicates a year-over-year change of -5.4%.The average prediction of analysts places 'Revenues- Equity in earnings of affiliates' at $403.06 million. The estimate points to a change of -4.3% from the year-ago quarter.According to the collective judgment of analysts, 'Sales and Other Operating Revenue- Natural gas liquids' should come in at $690.11 million. The estimate suggests a change of +5.4% year over year.It is projected by analysts that the 'Revenues- Gain (loss) on dispositions' will reach $24.00 million. The estimate indicates a year-over-year change of -14.3%.Analysts forecast 'Sales and Other Operating Revenues- Canada' to reach $913.94 million. The estimate points to a change of +0.9% from the year-ago quarter.The consensus among analysts is that 'Sales and Other Operating Revenues- Asia Pacific' will reach $461.41 million. The estimate indicates a change of -2.5% from the prior-year quarter.The combined assessment of analysts suggests that 'Sales and Other Operating Revenues- Europe, Middle East and North Africa' will likely reach $1.42 billion. The estimate indicates a change of -9.6% from the prior-year quarter.The collective assessment of analysts points to an estimated 'Sales and Other Operating Revenues- Lower 48' of $9.30 billion. The estimate indicates a change of -6.2% from the prior-year quarter.Analysts expect 'Total Production per day' to come in at 2,086.33 millions of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 1902 millions of barrels of oil equivalent.Analysts predict that the 'Natural gas produced per day - Total company' will reach 3,588.94 millions of cubic feet. The estimate is in contrast to the year-ago figure of 3161 millions of cubic feet.The consensus estimate for 'Crude oil produced per day - Total company' stands at 1,057.65 millions of barrels of oil. Compared to the present estimate, the company reported 949 millions of barrels of oil in the same quarter last year.Analysts' assessment points toward 'Natural gas liquids produced per day - Total company' reaching 336.09 millions of barrels of oil. The estimate is in contrast to the year-ago figure of 301 millions of barrels of oil.View all Key Company Metrics for ConocoPhillips here>>>Shares of ConocoPhillips have experienced a change of -1.1% in the past month compared to the +1.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), COP is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks