ConocoPhillips (NYSE:COP – Free Report) – Analysts at Capital One Financial upped their Q3 2023 earnings estimates for ConocoPhillips in a research report issued on Tuesday, October 3rd. Capital One Financial analyst P. Johnston now anticipates that the energy producer will post earnings of $2.21 per share for the quarter, up from their prior estimate of $2.06. The consensus estimate for ConocoPhillips’ current full-year earnings is $8.94 per share. Capital One Financial also issued estimates for ConocoPhillips’ Q4 2023 earnings at $2.63 EPS, FY2023 earnings at $9.07 EPS, Q1 2024 earnings at $2.40 EPS, Q2 2024 earnings at $2.42 EPS, Q3 2024 earnings at $2.47 EPS, Q4 2024 earnings at $2.53 EPS and FY2025 earnings at $9.37 EPS.
Several other research analysts have also issued reports on COP. Citigroup decreased their price target on shares of ConocoPhillips from $145.00 to $140.00 in a research report on Wednesday, July 12th. Raymond James lowered their price objective on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Piper Sandler dropped their target price on ConocoPhillips from $149.00 to $125.00 in a research report on Tuesday, June 13th. Mizuho increased their price target on ConocoPhillips from $135.00 to $139.00 and gave the company a “neutral” rating in a report on Monday, September 18th. Finally, Truist Financial lifted their price objective on ConocoPhillips from $151.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.63.
ConocoPhillips Price Performance
NYSE COP opened at $113.40 on Thursday. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $138.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.41 and a quick ratio of 1.28. The company’s 50 day simple moving average is $118.69 and its 200 day simple moving average is $108.79. The firm has a market capitalization of $135.80 billion, a PE ratio of 10.92, a P/E/G ratio of 0.72 and a beta of 1.28.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). The company had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $14.64 billion. ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. During the same period last year, the company posted $3.91 earnings per share.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. grew its position in ConocoPhillips by 398.1% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after purchasing an additional 215 shares in the last quarter. West Tower Group LLC purchased a new position in ConocoPhillips during the second quarter valued at approximately $27,000. Northwest Bank & Trust Co purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $29,000. Fairfield Bush & CO. bought a new position in shares of ConocoPhillips in the first quarter worth $31,000. Finally, Financial Connections Group Inc. lifted its holdings in shares of ConocoPhillips by 383.3% during the 4th quarter. Financial Connections Group Inc. now owns 290 shares of the energy producer’s stock worth $34,000 after acquiring an additional 230 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.
Insider Buying and Selling at ConocoPhillips
In related news, Director Sharmila Mulligan sold 1,849 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total value of $231,476.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sharmila Mulligan sold 1,849 shares of ConocoPhillips stock in a transaction on Friday, September 15th. The shares were sold at an average price of $125.19, for a total transaction of $231,476.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Lundquist sold 30,800 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total value of $3,813,964.00. Following the transaction, the senior vice president now directly owns 5,937 shares of the company’s stock, valued at $735,178.71. The disclosure for this sale can be found here. Insiders have sold a total of 602,049 shares of company stock worth $73,591,956 over the last 90 days. Insiders own 0.37% of the company’s stock.
ConocoPhillips Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.80%. The ex-dividend date was Wednesday, September 27th. ConocoPhillips’s dividend payout ratio (DPR) is presently 19.65%.
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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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