Zacks Research Forecasts Weaker Earnings for ConocoPhillips

ConocoPhillips (NYSE:COP) – Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for ConocoPhillips in a research note issued on Wednesday, November 27th. Zacks Research analyst R. Department now anticipates that the energy producer will post earnings per share of $7.65 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.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS.

COP has been the topic of a number of other reports. Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. UBS Group dropped their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Down 2.0 %

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

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently added to or reduced their stakes in COP. Franklin Resources Inc. lifted its holdings in shares of ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Synovus Financial Corp grew its holdings in shares of ConocoPhillips by 1.3% in the 3rd quarter. Synovus Financial Corp now owns 45,995 shares of the energy producer’s stock worth $4,842,000 after purchasing an additional 582 shares during the last quarter. Tidal Investments LLC increased its position in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Arvest Bank Trust Division bought a new position in ConocoPhillips during the 3rd quarter valued at about $11,549,000. Finally, World Investment Advisors LLC boosted its position in ConocoPhillips by 746.7% in the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock valued at $4,625,000 after buying an additional 38,740 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.