ConocoPhillips (NYSE:COP) Expected to Earn Q1 2024 Earnings of $1.95 Per Share

ConocoPhillips (NYSE:COP) – Equities research analysts at Zacks Research dropped their Q1 2024 earnings estimates for ConocoPhillips in a research report issued on Monday, April 22nd. Zacks Research analyst R. Department now forecasts that the energy producer will post earnings of $1.95 per share for the quarter, down from their prior estimate of $2.01. The consensus estimate for ConocoPhillips’ current full-year earnings is $9.57 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.

A number of other analysts have also issued reports on the stock. Truist Financial dropped their price target on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Barclays began 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. Piper Sandler boosted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho reiterated a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE:COP opened at $130.07 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $122.10 and a 200 day simple moving average of $117.58. The firm has a market cap of $153.02 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 2.71 and a beta of 1.24. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the firm earned $2.71 earnings per share.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.40%. ConocoPhillips’s payout ratio is 25.61%.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock valued at $87,615,169 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the stock. Capital Investment Counsel Inc bought a new stake in ConocoPhillips in the third quarter worth about $228,000. Columbia Trust Co 01012016 raised its position in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after acquiring an additional 112 shares in the last quarter. Raymond James & Associates raised its position in ConocoPhillips by 1.5% in the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after acquiring an additional 23,572 shares in the last quarter. Syon Capital LLC bought a new stake in ConocoPhillips in the third quarter worth about $2,262,000. Finally, PFG Investments LLC bought a new stake in ConocoPhillips in the third quarter worth about $233,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.