Q3 2024 EPS Estimates for ConocoPhillips (NYSE:COP) Reduced by Capital One Financial

ConocoPhillips (NYSE:COP - Free Report) - Stock analysts at Capital One Financial cut their Q3 2024 earnings estimates for ConocoPhillips in a research note issued to investors on Tuesday, September 17th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will post earnings of $1.79 per share for the quarter, down from their prior estimate of $2.09. The consensus estimate for ConocoPhillips' current full-year earnings is $8.41 per share. Capital One Financial also issued estimates for ConocoPhillips' Q4 2024 earnings at $1.71 EPS, FY2024 earnings at $7.53 EPS, Q1 2025 earnings at $1.46 EPS, Q2 2025 earnings at $1.55 EPS, Q3 2025 earnings at $1.62 EPS, Q4 2025 earnings at $1.65 EPS, FY2025 earnings at $6.28 EPS and FY2026 earnings at $6.93 EPS.

Several other research firms have also commented on COP. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Susquehanna reduced their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a "positive" rating on the stock in a report on Wednesday, September 4th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an "outperform" rating and a $145.00 price target on the stock. Mizuho cut their price objective on ConocoPhillips from $132.00 to $129.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an "outperform" rating on the stock in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $142.29.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.68 during trading hours on Friday, hitting $109.87. The stock had a trading volume of 32,348,422 shares, compared to its average volume of 5,882,006. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock has a market capitalization of $128.50 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.78 and a beta of 1.22. The stock's fifty day moving average is $109.82 and its two-hundred day moving average is $116.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly 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 analysts' expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. ConocoPhillips's payout ratio is 26.27%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction 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 transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Gilbert & Cook Inc. boosted its position in ConocoPhillips by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer's stock worth $1,560,000 after purchasing an additional 483 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter worth about $41,000. Sachetta LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. CreativeOne Wealth LLC raised its holdings in shares of ConocoPhillips by 1.7% during the 4th quarter. CreativeOne Wealth LLC now owns 6,706 shares of the energy producer's stock valued at $779,000 after buying an additional 109 shares during the period. Finally, Aigen Investment Management LP lifted its position in ConocoPhillips by 3.0% during the 4th quarter. Aigen Investment Management LP now owns 3,612 shares of the energy producer's stock worth $419,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

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.