Q1 2024 Earnings Estimate for ConocoPhillips (NYSE:COP) Issued By Zacks Research

ConocoPhillips (NYSE:COP - Free Report) - Stock analysts at Zacks Research decreased their Q1 2024 earnings estimates for ConocoPhillips in a research report issued to clients and investors on Monday, April 22nd. Zacks Research analyst R. Department now anticipates that the energy producer will post earnings per share of $1.95 for the quarter, down from their previous estimate of $2.01. The consensus estimate for ConocoPhillips' current full-year earnings is $9.47 per share. Zacks Research also issued estimates for ConocoPhillips' Q3 2024 earnings at $2.17 EPS, Q4 2024 earnings at $2.35 EPS, FY2024 earnings at $8.59 EPS, Q1 2025 earnings at $2.38 EPS, Q2 2025 earnings at $2.56 EPS, FY2025 earnings at $10.34 EPS, Q1 2026 earnings at $2.38 EPS and FY2026 earnings at $10.31 EPS.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the company earned $2.71 EPS.

A number of other equities analysts also recently weighed in on COP. Barclays started coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They set an "overweight" rating and a $158.00 target price for the company. Wells Fargo & Company boosted their price objective on ConocoPhillips from $141.00 to $149.00 and gave the company an "overweight" rating in a research note on Wednesday, April 10th. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 11th. Truist Financial lowered their target price on ConocoPhillips from $173.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, April 5th. Finally, Piper Sandler raised their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.24.

ConocoPhillips Trading Down 0.4 %

Shares of ConocoPhillips stock traded down $0.56 during midday trading on Wednesday, reaching $129.28. The company had a trading volume of 3,846,183 shares, compared to its average volume of 5,377,396. The stock has a fifty day moving average price of $121.33 and a 200 day moving average price of $117.41. 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 fifty-two week low of $95.70 and a fifty-two week high of $135.18. The firm has a market cap of $152.09 billion, a PE ratio of 14.33, a P/E/G ratio of 2.73 and a beta of 1.24.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. ConocoPhillips's payout ratio is 25.61%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares of the company's stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 over the last ninety days. Company insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently modified their holdings of the stock. Orion Capital Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its holdings in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer's stock valued at $27,000 after buying an additional 108 shares in the last quarter. Sachetta LLC acquired a new position in shares of ConocoPhillips in the fourth quarter worth about $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $27,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer's stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

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, 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.