ConocoPhillips (NYSE:COP) Posts Quarterly Earnings Results, Beats Estimates By $0.32 EPS

ConocoPhillips (NYSE:COPGet Free Report) issued its quarterly earnings results on Thursday. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32, Briefing.com reports. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the business posted $2.71 earnings per share.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $111.16 on Friday. The firm has a market cap of $131.99 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 0.66 and a beta of 1.24. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $127.35. The firm’s fifty day moving average is $113.10 and its 200-day moving average is $116.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.53 and a current ratio of 1.43.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Mizuho decreased their price objective on shares of ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research report on Friday, December 8th. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. Finally, Royal Bank of Canada boosted their price target on ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $134.33.

View Our Latest Stock Report on ConocoPhillips

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sherbrooke Park Advisers LLC increased its stake in shares of ConocoPhillips by 2.4% in the second quarter. Sherbrooke Park Advisers LLC now owns 4,200 shares of the energy producer’s stock valued at $435,000 after buying an additional 100 shares during the period. Laurel Wealth Advisors LLC increased its position in ConocoPhillips by 0.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,651 shares of the energy producer’s stock valued at $1,207,000 after purchasing an additional 106 shares during the period. Signet Financial Management LLC raised its holdings in ConocoPhillips by 3.4% during the 4th quarter. Signet Financial Management LLC now owns 4,176 shares of the energy producer’s stock worth $493,000 after purchasing an additional 136 shares during the last quarter. WealthPlan Investment Management LLC lifted its position in shares of ConocoPhillips by 4.4% in the 4th quarter. WealthPlan Investment Management LLC now owns 3,259 shares of the energy producer’s stock worth $366,000 after purchasing an additional 137 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of ConocoPhillips by 4.6% in the 1st quarter. Sound View Wealth Advisors Group LLC now owns 3,159 shares of the energy producer’s stock valued at $313,000 after purchasing an additional 140 shares during the last quarter. 80.36% of the stock is owned by institutional investors.

About ConocoPhillips

(Get Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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Earnings History for ConocoPhillips (NYSE:COP)

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