ConocoPhillips FY2024 EPS Increased by Capital One Financial

ConocoPhillips (NYSE:COP) – Equities research analysts at Capital One Financial raised their FY2024 earnings per share (EPS) estimates for ConocoPhillips in a report issued on Wednesday, January 8th. Capital One Financial analyst P. Johnston now forecasts that the energy producer will post earnings per share of $7.54 for the year, up from their previous forecast of $7.50. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.77 per share.

COP has been the topic of a number of other reports. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Piper Sandler lowered their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $136.71.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $101.48 on Friday. The company has a 50 day moving average of $104.51 and a 200 day moving average of $107.88. 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 twelve month low of $94.23 and a twelve month high of $135.18. The firm has a market cap of $116.79 billion, a P/E ratio of 12.07, a PEG ratio of 0.83 and a beta of 1.19.

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

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors have recently added to or reduced their stakes in COP. Fortitude Family Office LLC grew its holdings in shares of ConocoPhillips by 11.1% in the fourth quarter. Fortitude Family Office LLC now owns 1,655 shares of the energy producer’s stock valued at $164,000 after purchasing an additional 166 shares in the last quarter. InvesTrust bought a new stake in shares of ConocoPhillips in the 4th quarter worth about $297,000. Weaver Consulting Group raised its position in shares of ConocoPhillips by 4.5% during the 4th quarter. Weaver Consulting Group now owns 3,216 shares of the energy producer’s stock valued at $319,000 after buying an additional 138 shares in the last quarter. Range Financial Group LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $305,000. Finally, Rise Advisors LLC grew its position in ConocoPhillips by 25.7% in the fourth quarter. Rise Advisors LLC now owns 821 shares of the energy producer’s stock worth $81,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.07%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

ConocoPhillips Company Profile

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.