FY2024 EPS Estimates for ConocoPhillips Increased by Analyst

ConocoPhillips (NYSE:COP) – Equities research analysts at Capital One Financial upped their FY2024 EPS estimates for ConocoPhillips in a research note issued on Tuesday, January 14th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will earn $7.62 per share for the year, up from their prior forecast of $7.54. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.77 per share. Capital One Financial also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.80 EPS and Q1 2025 earnings at $1.77 EPS.

Several other equities research analysts also recently weighed in on the stock. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Truist Financial boosted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company decreased their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $136.65.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE:COP opened at $104.83 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $104.21 and a 200-day simple moving average of $107.56. The company has a market capitalization of $120.65 billion, a PE ratio of 12.46, a P/E/G ratio of 0.83 and a beta of 1.19. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.16 EPS.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COP. State Street Corp grew its position in shares of ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP lifted its stake in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC grew its holdings in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

About ConocoPhillips

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.