Analysts Set Expectations for ConocoPhillips FY2024 Earnings

ConocoPhillips (NYSE:COP) – Zacks Research cut their FY2024 earnings per share (EPS) estimates for ConocoPhillips in a report issued on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the energy producer will post earnings per share of $7.65 for the year, down from their prior estimate 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.

COP has been the topic of a number of other research reports. 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 report on Thursday, October 10th. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Finally, Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Six 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 company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE COP opened at $106.05 on Monday. The company has a market capitalization of $122.05 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a 50 day simple moving average of $108.64 and a 200-day simple moving average of $110.52. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $70,000. Kingswood Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 1.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 15,822 shares of the energy producer’s stock valued at $1,810,000 after buying an additional 245 shares during the period. Park Avenue Securities LLC boosted its stake in shares of ConocoPhillips by 10.0% in the second quarter. Park Avenue Securities LLC now owns 47,394 shares of the energy producer’s stock valued at $5,421,000 after buying an additional 4,319 shares in the last quarter. Hilltop National Bank grew its holdings in ConocoPhillips by 12.9% during the second quarter. Hilltop National Bank now owns 18,734 shares of the energy producer’s stock worth $2,143,000 after acquiring an additional 2,142 shares during the period. Finally, Fiduciary Alliance LLC lifted its holdings in ConocoPhillips by 7.4% in the second quarter. Fiduciary Alliance LLC now owns 163,292 shares of the energy producer’s stock valued at $18,635,000 after acquiring an additional 11,201 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.