Q4 2024 EPS Estimates for ConocoPhillips Cut by Analyst (NYSE:COP)

ConocoPhillips (NYSE:COP) – Equities research analysts at Roth Capital decreased their Q4 2024 earnings estimates for shares of ConocoPhillips in a research note issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now expects that the energy producer will earn $2.58 per share for the quarter, down from their prior estimate of $2.79. The consensus estimate for ConocoPhillips’ current full-year earnings is $9.10 per share. Roth Capital also issued estimates for ConocoPhillips’ Q1 2025 earnings at $2.41 EPS, Q2 2025 earnings at $2.25 EPS, Q4 2025 earnings at $3.07 EPS and FY2025 earnings at $10.25 EPS.

A number of other analysts have also recently commented on COP. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective for the company. Truist Financial lowered their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a report on Monday, April 29th. Mizuho reissued a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Piper Sandler boosted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company raised their price objective on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.76.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $123.55 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. ConocoPhillips has a fifty-two week low of $97.42 and a fifty-two week high of $135.18. The stock has a fifty day moving average of $124.07 and a two-hundred day moving average of $117.59. The company has a market capitalization of $145.35 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.69 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the company posted $2.71 EPS.

Institutional Investors Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 24.9% in the fourth 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 in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of ConocoPhillips by 512.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after purchasing an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in ConocoPhillips in the third quarter worth about $310,102,000. Capital Wealth Planning LLC increased its holdings in ConocoPhillips by 45,426.8% in the third quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after buying an additional 1,425,946 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in ConocoPhillips by 3,931.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock valued at $185,304,000 after buying 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.

Insider Buying and Selling

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. In the last three months, insiders sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.53%. ConocoPhillips’s payout ratio is 26.27%.

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.