Q2 2024 EPS Estimates for ConocoPhillips (NYSE:COP) Increased by Analyst

ConocoPhillips (NYSE:COP) – Stock analysts at Zacks Research increased their Q2 2024 earnings estimates for ConocoPhillips in a research report issued on Monday, April 22nd. Zacks Research analyst R. Department now forecasts that the energy producer will post earnings per share of $2.11 for the quarter, up from their previous forecast of $2.10. The consensus estimate for ConocoPhillips’ current full-year earnings is $9.47 per share. Zacks Research also issued estimates for ConocoPhillips’ Q4 2025 earnings at $2.64 EPS.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the company earned $2.71 earnings per share.

COP has been the topic of several other research reports. UBS Group raised their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Piper Sandler increased their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Truist Financial dropped their price target on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley increased their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE:COP opened at $129.27 on Tuesday. The firm’s 50 day moving average price is $121.71 and its 200 day moving average price is $117.49. The stock has a market cap of $152.07 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. ConocoPhillips’s dividend payout ratio is 25.61%.

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after acquiring an additional 4,726,952 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of ConocoPhillips during the 3rd quarter valued at about $310,102,000. Capital Wealth Planning LLC increased its stake in shares of ConocoPhillips by 45,426.8% during the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after acquiring an additional 1,425,946 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in ConocoPhillips by 3,931.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock worth $185,304,000 after purchasing an additional 1,419,764 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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.