ConocoPhillips (NYSE:COP) – Credit Agricole SA decreased their Q3 2016 earnings per share estimates for ConocoPhillips in a report released on Wednesday. Credit Agricole SA analyst A. Sen now forecasts that the brokerage will post earnings per share of ($0.71) 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 released its quarterly earnings data on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. The business earned $5.58 billion during the quarter, compared to analyst estimates of $5.38 billion. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. The firm’s revenue was down 35.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 EPS.
Several other analysts also recently weighed in on COP. Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a report on Thursday, June 30th. JPMorgan Chase & Co. raised shares of ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 target price on the stock in a report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, July 13th. Deutsche Bank AG reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Sunday, July 31st. Finally, Simmons reaffirmed a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $49.69.
Shares of ConocoPhillips (NYSE:COP) opened at 41.67 on Friday. ConocoPhillips has a 12-month low of $31.05 and a 12-month high of $57.24. The firm’s market cap is $51.61 billion. The firm has a 50-day moving average of $41.80 and a 200-day moving average of $42.80.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 yield of 2.40%. ConocoPhillips’s payout ratio is -17.57%.
In related news, VP Ellen Desanctis bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the acquisition, the vice president now owns 22,010 shares in the company, valued at $891,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 6,500 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares of the company’s stock, valued at approximately $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in ConocoPhillips by 1.7% in the second quarter. Nisa Investment Advisors LLC now owns 457,168 shares of the company’s stock valued at $19,933,000 after buying an additional 7,636 shares in the last quarter. Guinness Asset Management Ltd acquired a new stake in ConocoPhillips during the second quarter valued at about $10,726,000. Strs Ohio increased its stake in ConocoPhillips by 1.1% in the second quarter. Strs Ohio now owns 1,004,958 shares of the company’s stock valued at $43,816,000 after buying an additional 10,603 shares in the last quarter. Alps Advisors Inc. increased its stake in ConocoPhillips by 9.6% in the second quarter. Alps Advisors Inc. now owns 591,017 shares of the company’s stock valued at $25,768,000 after buying an additional 51,946 shares in the last quarter. Finally, Flossbach Von Storch AG increased its stake in ConocoPhillips by 0.6% in the second quarter. Flossbach Von Storch AG now owns 265,000 shares of the company’s stock valued at $11,554,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other 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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