ConocoPhillips (NYSE:COP) Releases Quarterly Earnings Results

ConocoPhillips (NYSE:COPGet Free Report) released its quarterly earnings data on Thursday. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32, Briefing.com reports. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the firm posted $2.71 earnings per share.

ConocoPhillips Trading Down 2.4 %

Shares of COP opened at $111.16 on Friday. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $127.35. The business’s fifty day moving average is $113.10 and its 200-day moving average is $116.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.43. The firm has a market cap of $131.99 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 0.65 and a beta of 1.24.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Mizuho cut their price objective on ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. cut their price objective on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research report on Friday, December 8th. UBS Group cut their price objective on ConocoPhillips from $149.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $134.33.

Check Out Our Latest Stock Analysis on ConocoPhillips

Hedge Funds Weigh In On ConocoPhillips

Hedge funds and other institutional investors have recently modified their holdings of the business. MayTech Global Investments LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at $118,000. Carolinas Wealth Consulting LLC increased its stake in shares of ConocoPhillips by 15.7% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 1,136 shares of the energy producer’s stock valued at $114,000 after purchasing an additional 154 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in ConocoPhillips during the 1st quarter worth $92,000. Cornerstone Planning Group LLC bought a new stake in ConocoPhillips during the 2nd quarter worth $86,000. Finally, Quarry LP bought a new stake in ConocoPhillips during the 2nd quarter worth $79,000. Institutional investors own 80.36% of the company’s stock.

About ConocoPhillips

(Get Free Report)

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.

Further Reading

Earnings History for ConocoPhillips (NYSE:COP)

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