Valued at a market cap of $115.8 billion, ConocoPhillips (COP) is an oil and natural gas exploration and production company headquartered in Houston, Texas. It produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids. The company is scheduled to announce its fiscal Q2 earnings for 2025 before the market opens on Thursday, Aug. 7.

Before this event, analysts project this energy company to report a profit of $1.34 per share, down 32.3% from $1.98 per share in the year-ago quarter. The company has surpassed Wall Street’s bottom-line estimates in three of the last four quarters, while missing on another occasion. Its earnings of $2.09 per share in the previous quarter outpaced the consensus estimates by 1.5%. 

For the full year, analysts expect COP to report EPS of $6.34, down 18.6% from $7.79 in fiscal 2024. Its EPS is expected to further decline 3.3% year-over-year to $6.13 in fiscal 2026. 

COP has declined 21.4% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 13.6% uptick and the Energy Select Sector SPDR Fund’s (XLE) 8% drop over the same time frame.

On May 8, shares of COP surged 1.3% after its better-than-expected Q1 earnings release. Due to higher production and volumes, the company’s total revenue and other income came in at $17.1 billion, representing an 18.1% year-over-year increase and 3.4% above Wall Street estimates. Moreover, its adjusted EPS of $2.09 grew 3% from the same period last year, surpassing consensus estimates by 1.5%.

Wall Street analysts are highly optimistic about COP’s stock, with an overall "Strong Buy" rating. Among 26 analysts covering the stock, 18 recommend "Strong Buy," five indicate "Moderate Buy,” and three suggest "Hold.” The mean price target for COP is $115.64, indicating a 26.2% potential upside from the current levels.