ConocoPhillips FY2024 EPS Forecast Lowered by Zacks Research

ConocoPhillips (NYSE:COP) – Investment analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for ConocoPhillips in a research note issued on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the energy producer will earn $7.65 per share for the year, down from their previous forecast of $7.66. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.76 per share. Zacks Research also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.86 EPS, Q2 2025 earnings at $1.84 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $7.36 EPS, Q1 2026 earnings at $1.79 EPS, Q2 2026 earnings at $1.89 EPS, Q3 2026 earnings at $1.87 EPS and FY2026 earnings at $7.53 EPS.

Several other research analysts have also issued reports on COP. Mizuho lifted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. UBS Group cut their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Down 2.0 %

NYSE COP opened at $106.14 on Monday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a market capitalization of $122.16 billion, a P/E ratio of 12.62, a PEG ratio of 0.89 and a beta of 1.21. The company’s 50 day simple moving average is $108.77 and its 200 day simple moving average is $110.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the company earned $2.16 EPS. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.