ConocoPhillips (NYSE:COP - Free Report) - Zacks Research increased their Q1 2024 earnings per share (EPS) estimates for ConocoPhillips in a note issued to investors on Tuesday, April 2nd. Zacks Research analyst R. Department now forecasts that the energy producer will post earnings per share of $2.01 for the quarter, up from their previous forecast of $1.78. The consensus estimate for ConocoPhillips' current full-year earnings is $8.81 per share. Zacks Research also issued estimates for ConocoPhillips' Q2 2024 earnings at $2.10 EPS, FY2024 earnings at $8.67 EPS, Q1 2025 earnings at $2.44 EPS, Q2 2025 earnings at $2.59 EPS, Q4 2025 earnings at $2.62 EPS, FY2025 earnings at $10.40 EPS, Q1 2026 earnings at $2.80 EPS and FY2026 earnings at $11.28 EPS.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the company posted $2.71 earnings per share.
COP has been the topic of several other research reports. Susquehanna lowered their price objective on shares of ConocoPhillips from $152.00 to $133.00 and set a "positive" rating on the stock in a research note on Friday, January 26th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Scotiabank lifted their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a "sector perform" rating in a research note on Friday, February 9th. Raymond James decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, January 24th. Finally, UBS Group lifted their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.94.
Check Out Our Latest Stock Report on COP
ConocoPhillips Stock Performance
Shares of ConocoPhillips stock traded up $1.80 during midday trading on Friday, hitting $133.55. The company had a trading volume of 3,594,615 shares, compared to its average volume of 5,629,293. The business's 50 day simple moving average is $116.79 and its two-hundred day simple moving average is $116.47. The stock has a market cap of $157.11 billion, a PE ratio of 14.74, a P/E/G ratio of 2.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $133.84.
ConocoPhillips Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Thursday, February 15th. ConocoPhillips's payout ratio is presently 25.61%.
Insider Transactions at ConocoPhillips
In related news, EVP Nicholas G. Olds sold 12,150 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nicholas G. Olds sold 12,150 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.37% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On ConocoPhillips
Several hedge funds have recently made changes to their positions in the business. Norris Perne & French LLP MI lifted its stake in shares of ConocoPhillips by 1.9% in the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer's stock worth $523,000 after acquiring an additional 80 shares during the period. Sloy Dahl & Holst LLC lifted its stake in shares of ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer's stock worth $315,000 after acquiring an additional 85 shares during the period. Mascoma Wealth Management LLC lifted its stake in shares of ConocoPhillips by 35.9% in the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer's stock worth $40,000 after acquiring an additional 88 shares during the period. CRA Financial Services LLC lifted its stake in shares of ConocoPhillips by 1.9% in the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer's stock worth $563,000 after acquiring an additional 89 shares during the period. Finally, KLCM Advisors Inc. lifted its stake in shares of ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer's stock worth $396,000 after acquiring an additional 89 shares during the period. 82.36% of the stock is owned by institutional investors.
About ConocoPhillips
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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.
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