Capital One Financial Analysts Reduce Earnings Estimates for ConocoPhillips (NYSE:COP)

ConocoPhillips (NYSE:COP) – Capital One Financial lowered their Q3 2024 EPS estimates for ConocoPhillips in a note issued to investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will post earnings per share of $1.79 for the quarter, down from their prior forecast of $2.09. The consensus estimate for ConocoPhillips’ current full-year earnings is $8.41 per share. Capital One Financial also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $7.53 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.55 EPS, Q3 2025 earnings at $1.62 EPS, Q4 2025 earnings at $1.65 EPS, FY2025 earnings at $6.28 EPS and FY2026 earnings at $6.93 EPS.

Other equities analysts have also issued reports about the company. Wells Fargo & Company cut their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Raymond James restated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.29.

ConocoPhillips Trading Up 1.7 %

NYSE:COP opened at $110.51 on Friday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The business’s 50-day simple moving average is $109.82 and its 200 day simple moving average is $116.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a market cap of $129.25 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of ConocoPhillips

Several hedge funds have recently added to or reduced their stakes in COP. Valued Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its position in shares of ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after buying an additional 85 shares in the last quarter. Manchester Capital Management LLC lifted 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 during the period. Adirondack Trust Co. boosted its holdings in shares of ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after acquiring an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC boosted its holdings in shares of ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 90 shares in the last quarter. Institutional investors 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.