FY2024 EPS Forecast for ConocoPhillips Decreased by Analyst

ConocoPhillips (NYSE:COP) – Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of ConocoPhillips in a research report issued on Wednesday, November 27th. Zacks Research analyst R. Department now anticipates that the energy producer will post earnings per share of $7.65 for the year, down from their previous forecast of $7.66. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.76 per share. Zacks Research also issued estimates for ConocoPhillips’ Q4 2024 earnings at $1.86 EPS, Q2 2025 earnings at $1.84 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $1.84 EPS, FY2025 earnings at $7.36 EPS, Q1 2026 earnings at $1.79 EPS, Q2 2026 earnings at $1.89 EPS, Q3 2026 earnings at $1.87 EPS and FY2026 earnings at $7.53 EPS.

A number of other research firms have also issued reports on COP. Scotiabank reduced their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Mizuho boosted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE COP opened at $106.05 on Monday. The firm’s 50-day moving average is $108.64 and its two-hundred day moving average is $110.52. The company has a market capitalization of $122.05 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.18. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last released its quarterly 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 return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The business’s revenue was down 8.5% on a year-over-year basis.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently made changes to their positions in the business. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC boosted its position in ConocoPhillips by 69.3% in 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 during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips in the second quarter worth about $35,000. 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.