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Houston, Texas-based ConocoPhillips (COP) explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids. The company has a market cap of $140.9 billion and is expected to release its Q2 2026 earnings on Thursday, Aug. 6, before the market opens.
Ahead of the event, analysts expect the company’s EPS to be $2.96 on a diluted basis, up 108.5% from $1.42 in the year-ago quarter. The company has met or exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.
For fiscal 2026, analysts project the company’s EPS to be $9.20, up 49.4% from $6.16 in fiscal 2025. Moreover, its EPS is expected to decline by roughly 11.5% year over year (YoY) to $8.14 in fiscal 2027.
COP stock has surged 26.2% over the past 52 weeks, outperforming the S&P 500 Index’s ($SPX) 18.2% rise, but lagging behind the State Street Energy Select Sector SPDR ETF’s (XLE) 34.8% return during the same time frame.
On July 17, COP stock rose more than 1% as geopolitical risks carry on, resulting in a 4% rise in WTI crude oil prices. As the U.S. continues launching strikes against Iran, hitting coastal surveillance and air defense sites and military logistics infrastructure, Iraq retaliated by attacking US bases in Kuwait, Jordan, and Bahrain, with Kuwait. With reports of expanding military operations in the coming days, analysts expect WTI crude oil prices to keep on climbing.
Analysts are moderately bullish on COP, with the stock having a “Moderate Buy” rating overall. Among the 26 analysts covering the stock, 15 are recommending a “Strong Buy,” four suggest a “Moderate Buy,” and seven suggest a “Hold” for the stock. COP’s average analyst price target is $139.58, indicating an upside of 20.7% from the current levels.
On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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