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

ConocoPhillips (NYSE:COP) – Equities research analysts at Capital One Financial dropped their Q3 2024 earnings per share (EPS) estimates for shares of ConocoPhillips in a research note issued on Thursday, October 10th. Capital One Financial analyst P. Johnston now expects that the energy producer will post earnings of $1.65 per share for the quarter, down from their prior estimate of $1.79. The consensus estimate for ConocoPhillips’ current full-year earnings is $8.02 per share. Capital One Financial also issued estimates for ConocoPhillips’ FY2024 earnings at $7.45 EPS, FY2025 earnings at $6.27 EPS and FY2026 earnings at $6.91 EPS.

COP has been the subject of several other reports. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Scotiabank dropped their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company dropped their price objective on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.12.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $110.49 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $128.31 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The business’s 50-day moving average price is $109.06 and its 200-day moving average price is $115.47. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 EPS.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently bought and sold shares of the stock. Valued Wealth Advisors LLC lifted its holdings in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the period. Astoria Portfolio Advisors LLC. increased its position in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares in the last quarter. Adirondack Trust Co. increased its position in shares of ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC increased its position in shares of ConocoPhillips by 3.5% during the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.10%. ConocoPhillips’s payout ratio is 25.86%.

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.