Credit Agricole SA Analysts Cut Earnings Estimates for ConocoPhillips (COP)
ConocoPhillips (NYSE:COP) – Credit Agricole SA lowered their Q3 2016 earnings estimates for ConocoPhillips in a report issued on Wednesday. Credit Agricole SA analyst A. Sen now forecasts that the firm will earn ($0.71) per share for the quarter, down from their previous estimate of ($0.57). Credit Agricole SA also issued estimates for ConocoPhillips’ FY2016 earnings at ($2.94) EPS.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. ConocoPhillips’s quarterly revenue was down 35.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS.
Other equities analysts also recently issued research reports about the company. Deutsche Bank AG reissued a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 16th. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. JPMorgan Chase & Co. raised ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price target on the stock in a research report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Wednesday, July 13th. Finally, Simmons reissued a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.69.
ConocoPhillips (NYSE:COP) traded down 0.55% during trading on Friday, hitting $41.92. The company had a trading volume of 2,925,043 shares. The company’s market capitalization is $51.92 billion. ConocoPhillips has a one year low of $31.05 and a one year high of $57.24. The stock has a 50-day moving average of $41.83 and a 200 day moving average of $42.79.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, October 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s payout ratio is -17.57%.
In other news, VP Ellen Desanctis purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the purchase, the vice president now owns 22,010 shares of the company’s stock, valued at $891,405. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti purchased 6,500 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was purchased at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the purchase, the director now directly owns 19,000 shares in the company, valued at approximately $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in COP. Pinkerton Retirement Specialists LLC increased its stake in ConocoPhillips by 5,507.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,411 shares of the company’s stock worth $105,000 after buying an additional 2,368 shares during the last quarter. Integrated Investment Consultants LLC increased its stake in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the last quarter. Signaturefd LLC increased its stake in ConocoPhillips by 16.9% in the second quarter. Signaturefd LLC now owns 2,648 shares of the company’s stock worth $115,000 after buying an additional 383 shares during the last quarter. Quadrant Capital Group LLC increased its stake in ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock worth $109,000 after buying an additional 1,371 shares during the last quarter. Finally, Cribstone Capital Management LLC bought a new stake in ConocoPhillips during the second quarter worth $122,000. Institutional investors own 63.69% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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