Investing

Earnings Previews: Barrick Gold, ConocoPhillips, Exelon, Peloton

Analysts remain bullish on Barrick stock, with 19 of 24 brokerages having a Buy or Strong Buy rating while the rest have Hold ratings. At a recent price of around $15.00 a share, the upside potential based on a median price target of $21.00 is 40%. At the high price target of $29.00, the upside potential is 93.3%.

Third-quarter revenue is forecast at $2.52 billion, which would be down 11.9% sequentially and 11.0% lower year over year. Adjusted EPS are forecast at $0.12, down 51.5% sequentially and by 50.0% year over year. For the full 2022 fiscal year, estimates call for EPS of $0.84, down 27.2%, on sales of $11.28 billion, down 5.9%.

Barrick stock trades at about 17.8 times expected 2022 earnings, 17.6 times estimated 2023 earnings of $0.86 and 14.8 times estimated 2024 earnings of $1.02 per share. The stock’s 52-week trading range is $13.97 to $26.07. Barrick pays an annual dividend of $0.80 (yield of 5.23%). Total shareholder return for the past year was negative 14.9%.

ConocoPhillips

Over the past 12 months, shares of ConocoPhillips (NYSE: COP) have added almost 70% to their value. As with both Chevron and Exxon Mobil, the rise in the share price of the country’s largest independent oil and gas producer is closely tied to the rising price of oil. QatarEnergy announced Sunday that ConocoPhillips would have a 6.25% interest in the Gulf state’s liquefied natural gas expansion project, joining Shell and TotalEnergies (each with a stake of 9.375%) as the third and final partner.

Of 29 brokerages covering the company, 25 have ratings of Buy or Strong Buy. The rest rate the stock at Hold. At a share price of around $128.60, the upside potential based on a median price target of $132.50 is about 3%. At the high price target of $167.00, the upside potential is about 30%.

For the third quarter, analysts are expecting revenue of $18.23 billion, down 17.1% sequentially but up nearly 57.0% year over year. Adjusted EPS are expected to come in at $3.44, down 12.0% sequentially but 94.4% higher year over year. For the full 2022 fiscal year, Conoco is expected to report EPS of $14.09, up 134.4%, on sales of $77.01 billion, up 59.3%.

Conoco stock trades at about 9.1 times expected 2022 EPS, 9.5 times estimated 2023 earnings of $13.56 and 12.3 times estimated 2024 earnings of $10.43 per share. The stock’s 52-week trading range is $66.06 to $129.99, and the high was posted Monday. The company pays an annual dividend of $1.92 (yield of 1.51%). Total shareholder return for the past 12 months was 79.4%.

Exelon

Regulated electricity and natural gas supplier Exelon Corp. (NYSE: EXC) has seen its share price drop by nearly 28% over the past year. For the year to date, the stock is up about 8.4%, and over the past 12 months, shares have gained nearly 32%. Since Exelon completed the spinoff of its power generation and retail energy business into Constellation Energy in mid-January, the parent utility company’s stock has dipped by about 1.3%, while Constellation’s stock has added more than 125% to its spinoff valuation.

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