ConocoPhillips FY2024 EPS Boosted by Capital One Financial

ConocoPhillips (NYSE:COP) – Investment analysts at Capital One Financial raised their FY2024 EPS estimates for ConocoPhillips in a report issued on Monday, November 4th. Capital One Financial analyst P. Johnston now forecasts that the energy producer will post earnings per share of $7.50 for the year, up from their prior estimate of $7.45. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.79 per share. Capital One Financial also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.68 EPS.

COP has been the subject of several other research reports. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Susquehanna raised their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Six investment 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 stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Stock Performance

COP stock opened at $112.40 on Wednesday. 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 has a 1-year low of $101.29 and a 1-year high of $135.18. The business has a 50-day moving average price of $107.81 and a 200 day moving average price of $112.53. The company has a market capitalization of $129.36 billion, a P/E ratio of 13.37, a PEG ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its 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 return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the company posted $2.16 EPS. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis.

Institutional Trading of ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC boosted its position in ConocoPhillips by 22.1% in the 1st 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. Vicus Capital boosted its holdings in ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after buying an additional 94 shares in the last quarter. Montag A & Associates Inc. grew its position in ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after buying an additional 96 shares during the period. Excalibur Management Corp increased its holdings in ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after buying an additional 96 shares in the last quarter. Finally, First Hawaiian Bank raised its position in shares of ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after acquiring an additional 97 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.78%. 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.