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Stock Update: ConocoPhillips (NYSE:COP) – ConocoPhillips Reports First-Quarter 2016 Results; Announces Revised 2016 Capital Expenditures Guidance

[Business Wire] – ConocoPhillips today reported a first-quarter 2016 net loss of $1.5 billion, or per share, compared with first-quarter 2015 earnings of $272 million, or $0.22 per share. Read more on this. ConocoPhillips (COP) , currently valued at $60.26B, opened this morning at $48.13. Looking at today’s trading action, the company’s one day range from $47.50 to $49.20 with its 52-week range being $31.05 to $69.03. COP shares are currently priced at -20.13x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s -4.01x forward p/e ratio. And for dividend hunters, the company pays shareholders $1.00 per share annually in dividends, yielding 2.10%. In a review of the consensus earnings estimate this quarter, 22 sell-side analysts are looking at $-1.05 per share, which would be $0.00 better than the year-ago quarter and a $0.00 sequential increase. What we find to be interesting is that the full-year EPS estimate of $-2.39 is a $0.99 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.22 Billion. If reported, that would be a 9.75% decrease over the year-ago quarter. Recently, Jefferies downgraded COP from Hold to Underperform (Apr 21, 2016). Previously, Scotia Howard Weil downgraded COP from Sector Outperform to Sector Perform. The average price target for COP shares by the analysts covering it is $46.29, which is 3.82% below where the stock opened. See more in (NYSE:COP) Similar Articles: Company Update: Anadarko Petroleum Corporation (NYSE:APC) – Anadarko Announces 2016 Capital Program And Guidance Market Update: ConocoPhillips (NYSE:COP) – Technical Briefing on Independent Oil & Gas Stocks — ConocoPhillips, Anadarko Petroleum, CONSOL Energy, and WPX Energy Market Update: ConocoPhillips (NYSE:COP) – ConocoPhillips to Present at Bank of America Merrill Lynch 2015 Global Energy Conference
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