Q2 2022 EPS Estimates for ConocoPhillips (NYSE:COP) Lifted by Capital One Financial

ConocoPhillips (NYSE:COPGet Rating) – Investment analysts at Capital One Financial lifted their Q2 2022 earnings per share estimates for ConocoPhillips in a research note issued to investors on Wednesday, May 18th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will earn $4.00 per share for the quarter, up from their previous forecast of $2.88. Capital One Financial also issued estimates for ConocoPhillips’ Q3 2022 earnings at $3.99 EPS, Q4 2022 earnings at $4.02 EPS, FY2022 earnings at $15.29 EPS and FY2023 earnings at $11.90 EPS.

A number of other brokerages have also recently commented on COP. Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating and set a $107.00 target price for the company. in a report on Tuesday, April 5th. Mizuho increased their price target on ConocoPhillips from $115.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 31st. Wells Fargo & Company increased their price target on ConocoPhillips from $114.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Truist Financial increased their price target on ConocoPhillips from $115.00 to $130.00 in a report on Thursday, April 21st. Finally, Susquehanna Bancshares increased their price target on ConocoPhillips from $108.00 to $129.00 in a report on Monday, April 25th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Buy” and an average target price of $105.79.

Shares of ConocoPhillips stock opened at $105.02 on Monday. The business has a 50 day simple moving average of $100.38 and a two-hundred day simple moving average of $88.34. ConocoPhillips has a 12 month low of $51.41 and a 12 month high of $108.30. The stock has a market capitalization of $135.84 billion, a P/E ratio of 10.83, a PEG ratio of 0.38 and a beta of 1.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.51 and a quick ratio of 1.41.

ConocoPhillips (NYSE:COPGet Rating) last announced its earnings results on Thursday, May 5th. The energy producer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $0.03. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $18.36 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue was up 82.7% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 17th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, May 16th. This represents a $1.84 annualized dividend and a dividend yield of 1.75%. ConocoPhillips’s dividend payout ratio is currently 18.97%.

In related news, EVP Nicholas G. Olds sold 19,600 shares of ConocoPhillips stock in a transaction on Friday, March 4th. The stock was sold at an average price of $99.95, for a total value of $1,959,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Heather G. Sirdashney sold 5,700 shares of ConocoPhillips stock in a transaction on Friday, March 4th. The shares were sold at an average price of $98.71, for a total value of $562,647.00. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockland Trust Co. lifted its holdings in ConocoPhillips by 3.8% during the 4th quarter. Rockland Trust Co. now owns 10,933 shares of the energy producer’s stock worth $789,000 after buying an additional 399 shares during the last quarter. Old North State Trust LLC increased its position in shares of ConocoPhillips by 25.0% during the fourth quarter. Old North State Trust LLC now owns 1,180 shares of the energy producer’s stock worth $85,000 after purchasing an additional 236 shares in the last quarter. Retirement Group LLC increased its position in shares of ConocoPhillips by 12.2% during the third quarter. Retirement Group LLC now owns 15,326 shares of the energy producer’s stock worth $1,039,000 after purchasing an additional 1,672 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of ConocoPhillips by 9.2% during the third quarter. UBS Asset Management Americas Inc. now owns 6,262,480 shares of the energy producer’s stock worth $424,408,000 after purchasing an additional 529,105 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of ConocoPhillips by 14.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 307,184 shares of the energy producer’s stock worth $22,176,000 after purchasing an additional 37,907 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

ConocoPhillips Company Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.

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Earnings History and Estimates for ConocoPhillips (NYSE:COP)

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