ConocoPhillips FY2024 EPS Lifted by Capital One Financial

ConocoPhillips (NYSE:COP) – Analysts at Capital One Financial lifted their FY2024 earnings estimates for shares of ConocoPhillips in a research report issued on Monday, November 4th. Capital One Financial analyst P. Johnston now expects that the energy producer will post earnings of $7.50 per share for the year, up from their prior forecast of $7.45. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.79 per share. Capital One Financial also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.68 EPS.

A number of other brokerages also recently issued reports on COP. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group dropped their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Up 4.0 %

Shares of NYSE COP opened at $113.60 on Wednesday. The company has a market capitalization of $130.74 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company’s 50 day moving average price is $107.81 and its 200-day moving average price is $112.53.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS.

Institutional Trading of ConocoPhillips

Several institutional investors have recently made changes to their positions in the company. Manchester Capital Management LLC grew its stake in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares in the last quarter. Vicus Capital grew its position in ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. grew its position in ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after buying an additional 96 shares during the period. Excalibur Management Corp grew its position in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after buying an additional 96 shares during the period. Finally, First Hawaiian Bank grew its position in ConocoPhillips by 0.3% during the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after buying an additional 97 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 27.59%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.