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

ConocoPhillips (NYSE:COP - Free Report) - Equities research analysts at Capital One Financial dropped their Q1 2024 earnings per share estimates for shares of ConocoPhillips in a research note issued on Tuesday, April 9th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will post earnings of $2.01 per share for the quarter, down from their prior forecast of $2.11. The consensus estimate for ConocoPhillips' current full-year earnings is $9.22 per share. Capital One Financial also issued estimates for ConocoPhillips' Q2 2024 earnings at $2.38 EPS, Q3 2024 earnings at $2.44 EPS and FY2024 earnings at $9.43 EPS.

A number of other research analysts also recently weighed in on COP. Morgan Stanley upped their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an "overweight" rating in a research note on Thursday, March 28th. Mizuho reissued a "neutral" rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Truist Financial reduced their price objective on ConocoPhillips from $173.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Wells Fargo & Company raised their price objective on ConocoPhillips from $141.00 to $149.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Johnson Rice cut ConocoPhillips from an "accumulate" rating to a "hold" rating in a research note on Thursday, December 14th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.59.

ConocoPhillips Trading Down 1.3 %

Shares of ConocoPhillips stock traded down $1.68 on Friday, hitting $131.24. 4,954,738 shares of the company's stock traded hands, compared to its average volume of 5,541,659. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a fifty day moving average of $118.84 and a two-hundred day moving average of $116.88. The company has a market capitalization of $154.39 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 2.88 and a beta of 1.24.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same quarter in the previous year, the company posted $2.71 EPS.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.38%. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips's dividend payout ratio (DPR) is currently 25.61%.

Insider Activity

In other news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company's stock, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 14,522 shares of the company's stock, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last ninety days. 0.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Norris Perne & French LLP MI grew its position in 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 in the last quarter. Sloy Dahl & Holst LLC grew its position in 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 in the last quarter. Mascoma Wealth Management LLC grew its position in 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 in the last quarter. CRA Financial Services LLC grew its position in 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 in the last quarter. Finally, KLCM Advisors Inc. grew its position in 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 in the last quarter. Hedge funds and other 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.