ConocoPhillips (NYSE:COP – Free Report) – Equities researchers at Scotiabank decreased their FY2024 EPS estimates for shares of ConocoPhillips in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the energy producer will earn $7.65 per share for the year, down from their prior estimate of $8.55. Scotiabank has a “Sector Perform” rating and a $115.00 price objective on the stock. The consensus estimate for ConocoPhillips’ current full-year earnings is $7.77 per share. Scotiabank also issued estimates for ConocoPhillips’ FY2025 earnings at $6.60 EPS.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping 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 business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the company posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% on a year-over-year basis.
Get Our Latest Analysis on COP
ConocoPhillips Stock Performance
NYSE:COP opened at $104.83 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The stock has a market cap of $120.65 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The firm’s fifty day simple moving average is $104.21 and its 200-day simple moving average is $107.56.
ConocoPhillips Increases Dividend
The business also recently disclosed 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. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.
Insider Transactions at ConocoPhillips
In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter worth $31,000. Global Wealth Strategies & Associates lifted its position in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips during the third quarter worth $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.
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.
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