Q4 2024 EPS Estimates for ConocoPhillips Lowered by Roth Capital (NYSE:COP)

ConocoPhillips (NYSE:COP) – Research analysts at Roth Capital reduced their Q4 2024 EPS estimates for shares of ConocoPhillips in a report issued on Thursday, May 2nd. Roth Capital analyst L. Mariani now forecasts that the energy producer will post earnings of $2.58 per share for the quarter, down from their previous estimate of $2.79. The consensus estimate for ConocoPhillips’ current full-year earnings is $9.10 per share. Roth Capital also issued estimates for ConocoPhillips’ Q1 2025 earnings at $2.41 EPS, Q2 2025 earnings at $2.25 EPS, Q4 2025 earnings at $3.07 EPS and FY2025 earnings at $10.25 EPS.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. During the same period last year, the firm posted $2.71 earnings per share.

Several other brokerages have also recently weighed in on COP. Raymond James lowered their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective on the stock. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Finally, Truist Financial decreased their price target on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $142.76.

ConocoPhillips Stock Performance

NYSE COP opened at $123.54 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The stock’s fifty day moving average is $124.31 and its two-hundred day moving average is $117.59. The firm has a market capitalization of $144.48 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. ConocoPhillips has a fifty-two week low of $97.42 and a fifty-two week high of $135.18.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s payout ratio is currently 26.27%.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 in the last ninety days. 0.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ConocoPhillips

A number of institutional investors and hedge funds have recently modified their holdings of the company. Valued Wealth Advisors LLC lifted its holdings in ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares during the last quarter. Sloy Dahl & Holst LLC boosted its holdings in ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 85 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its stake in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC raised its holdings in ConocoPhillips by 22.1% during the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares in the last quarter. Finally, KLCM Advisors Inc. lifted its position in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock worth $396,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.