ConocoPhillips (NYSE:COP – Free Report) – Analysts at Capital One Financial reduced their Q2 2023 earnings per share (EPS) estimates for shares of ConocoPhillips in a report released on Monday, July 17th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will post earnings per share of $1.85 for the quarter, down from their previous forecast of $1.86. The consensus estimate for ConocoPhillips’ current full-year earnings is $9.53 per share.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, May 4th. The energy producer reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.36. The firm had revenue of $15.52 billion for the quarter, compared to the consensus estimate of $16.06 billion. ConocoPhillips had a net margin of 20.21% and a return on equity of 32.75%. The business’s revenue was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.27 earnings per share.
A number of other equities analysts have also weighed in on the company. Bank of America boosted their price objective on ConocoPhillips from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 13th. Truist Financial raised their price target on ConocoPhillips from $151.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Morgan Stanley boosted their price target on ConocoPhillips from $122.00 to $124.00 in a research report on Monday, May 15th. Societe Generale raised ConocoPhillips from a “sell” rating to a “hold” rating and set a $105.00 target price for the company in a report on Wednesday, April 5th. Finally, StockNews.com started coverage on shares of ConocoPhillips in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $135.30.
ConocoPhillips Stock Performance
COP stock opened at $106.48 on Tuesday. The firm has a 50-day simple moving average of $102.88 and a two-hundred day simple moving average of $106.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.29 and a current ratio of 1.39. The firm has a market cap of $128.85 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.62 and a beta of 1.29. ConocoPhillips has a one year low of $84.65 and a one year high of $138.49.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Ten Capital Wealth Advisors LLC lifted its stake in ConocoPhillips by 205.8% during the fourth quarter. Ten Capital Wealth Advisors LLC now owns 211 shares of the energy producer’s stock worth $25,000 after purchasing an additional 142 shares during the last quarter. Orion Capital Management LLC raised its stake in ConocoPhillips by 149.5% during the fourth quarter. Orion Capital Management LLC now owns 227 shares of the energy producer’s stock valued at $27,000 after buying an additional 136 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in ConocoPhillips by 398.1% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after buying an additional 215 shares during the last quarter. Moisand Fitzgerald Tamayo LLC grew its position in shares of ConocoPhillips by 93.4% during the 4th quarter. Moisand Fitzgerald Tamayo LLC now owns 236 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 114 shares during the period. Finally, Horan Securities Inc. lifted its holdings in ConocoPhillips by 81.8% in the 4th quarter. Horan Securities Inc. now owns 249 shares of the energy producer’s stock worth $29,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
Insider Buying and Selling
In other news, Director Caroline Maury Devine sold 1,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $102.08, for a total transaction of $102,080.00. Following the completion of the transaction, the director now directly owns 849 shares of the company’s stock, valued at approximately $86,665.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.
ConocoPhillips Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Tuesday, May 16th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, June 26th. This represents a $2.04 dividend on an annualized basis and a yield of 1.92%. ConocoPhillips’s dividend payout ratio (DPR) is currently 16.32%.
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 and internationally. The company’s portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.