ConocoPhillips to Post Q3 2024 Earnings of $1.65 Per Share, Capital One Financial Forecasts (NYSE:COP)

ConocoPhillips (NYSE:COP - Free Report) - Stock analysts at Capital One Financial cut their Q3 2024 EPS estimates for shares of ConocoPhillips in a research note issued to investors on Thursday, October 10th. Capital One Financial analyst P. Johnston now forecasts that the energy producer will post earnings per share of $1.65 for the quarter, down from their prior forecast of $1.79. The consensus estimate for ConocoPhillips' current full-year earnings is $8.02 per share. Capital One Financial also issued estimates for ConocoPhillips' FY2024 earnings at $7.45 EPS, FY2025 earnings at $6.27 EPS and FY2026 earnings at $6.91 EPS.

Other equities research analysts have also issued research reports about the stock. Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an "outperform" rating and a $145.00 price target for the company. Mizuho reduced their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a "neutral" rating for the company in a report on Monday, September 16th. Susquehanna dropped their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a "positive" rating on the stock in a research note on Wednesday, September 4th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. 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 research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $137.12.

ConocoPhillips Stock Performance

Shares of COP traded down $1.02 during trading hours on Monday, hitting $109.47. The stock had a trading volume of 5,046,217 shares, compared to its average volume of 5,944,284. The firm has a market capitalization of $128.03 billion, a PE ratio of 12.51, a PEG ratio of 0.88 and a beta of 1.21. 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 has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a fifty day moving average price of $109.06 and a 200 day moving average price of $115.47.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analysts' expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share.

Hedge Funds Weigh In On ConocoPhillips

Several institutional investors have recently bought and sold shares of the business. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock valued at $29,000 after buying an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in ConocoPhillips during the first quarter valued at approximately $31,000. Northwest Bank & Trust Co purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Ruedi Wealth Management Inc. increased its position in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer's stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Valued Wealth Advisors LLC raised its holdings in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer's stock valued at $33,000 after buying an additional 82 shares during the period. Institutional investors own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.12%. ConocoPhillips's payout ratio is 26.27%.

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.