FY2024 EPS Forecast for ConocoPhillips Decreased by Analyst

ConocoPhillips (NYSE:COP) – Equities researchers at Zacks Research lowered their FY2024 EPS estimates for ConocoPhillips in a report issued on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the energy producer will earn $7.65 per share for the year, down from their prior estimate of $7.66. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.76 per share. Zacks Research also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.86 EPS, Q2 2025 earnings at $1.84 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $7.36 EPS, Q1 2026 earnings at $1.79 EPS, Q2 2026 earnings at $1.89 EPS, Q3 2026 earnings at $1.87 EPS and FY2026 earnings at $7.53 EPS.

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

A number of other research firms have also recently issued reports on COP. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. UBS Group decreased their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Mizuho raised their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of COP opened at $108.34 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $124.69 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.89 and a beta of 1.21. The business’s 50-day moving average is $108.77 and its 200-day moving average is $110.72. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.88%. ConocoPhillips’s payout ratio is 37.10%.

Hedge Funds Weigh In On ConocoPhillips

Large investors have recently bought and sold shares of the stock. Vicus Capital grew its holdings in shares of ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares during the last quarter. Montag A & Associates Inc. raised its stake in ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the last quarter. Excalibur Management Corp lifted its holdings in ConocoPhillips by 2.4% in 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. Cypress Capital Group boosted its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the last quarter. Finally, Bank OZK grew its holdings in ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after acquiring an additional 97 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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.