Equities Analysts Set Expectations for ConocoPhillips’ Q3 2016 Earnings (COP)
ConocoPhillips (NYSE:COP) – Analysts at Jefferies Group reduced their Q3 2016 earnings per share estimates for ConocoPhillips in a report released on Tuesday. Jefferies Group analyst J. Gammel now expects that the brokerage will earn ($0.68) per share for the quarter, down from their prior forecast of ($0.49). Jefferies Group has a “Hold” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for ConocoPhillips’ FY2016 earnings at ($2.72) EPS.
COP has been the subject of several other research reports. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, July 13th. Deutsche Bank AG reiterated a “buy” rating on shares of ConocoPhillips in a research report on Sunday, July 31st. Nomura reiterated a “hold” rating and set a $49.00 price objective on shares of ConocoPhillips in a research report on Monday, October 3rd. Simmons reiterated a “neutral” rating on shares of ConocoPhillips in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price objective for the company in a research report on Monday, July 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Hold” and a consensus target price of $49.69.
Shares of ConocoPhillips (NYSE:COP) traded down 0.558% during mid-day trading on Friday, hitting $41.915. 2,923,667 shares of the stock traded hands. The company’s market cap is $51.91 billion. The stock has a 50 day moving average price of $41.83 and a 200-day moving average price of $42.79. ConocoPhillips has a one year low of $31.05 and a one year high of $57.24.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS.
Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of ConocoPhillips by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 457,168 shares of the company’s stock worth $19,933,000 after buying an additional 7,636 shares during the period. Guinness Asset Management Ltd purchased a new stake in shares of ConocoPhillips during the second quarter worth $10,726,000. Strs Ohio increased its stake in shares of ConocoPhillips by 1.1% in the second quarter. Strs Ohio now owns 1,004,958 shares of the company’s stock worth $43,816,000 after buying an additional 10,603 shares during the period. Alps Advisors Inc. increased its stake in shares of ConocoPhillips by 9.6% in the second quarter. Alps Advisors Inc. now owns 591,017 shares of the company’s stock worth $25,768,000 after buying an additional 51,946 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of ConocoPhillips by 8.9% in the first quarter. Legal & General Group Plc now owns 6,639,417 shares of the company’s stock worth $267,366,000 after buying an additional 542,800 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.
In other news, Director Arjun N. Murti purchased 6,500 shares of the stock in a transaction dated Monday, August 1st. The stock was acquired at an average cost of $39.72 per share, for a total transaction of $258,180.00. Following the acquisition, the director now owns 19,000 shares of the company’s stock, valued at $754,680. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Ellen Desanctis purchased 5,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $40.50 per share, with a total value of $202,500.00. Following the completion of the acquisition, the vice president now directly owns 22,010 shares in the company, valued at approximately $891,405. The disclosure for this purchase can be found here. 0.07% of the stock is owned by insiders.
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 issued a $0.25 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. ConocoPhillips’s dividend payout ratio (DPR) is -17.57%.
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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