ConocoPhillips (NYSE:COP) Forecasted to Post FY2022 Earnings of $13.78 Per Share

ConocoPhillips (NYSE:COPGet Rating) – Research analysts at Jefferies Financial Group dropped their FY2022 earnings per share (EPS) estimates for shares of ConocoPhillips in a report issued on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now expects that the energy producer will earn $13.78 per share for the year, down from their previous forecast of $14.30. Jefferies Financial Group currently has a “Buy” rating and a $143.00 target price on the stock. The consensus estimate for ConocoPhillips’ current full-year earnings is $14.05 per share. Jefferies Financial Group also issued estimates for ConocoPhillips’ Q4 2022 earnings at $2.94 EPS, Q1 2023 earnings at $2.27 EPS, Q2 2023 earnings at $2.29 EPS, Q3 2023 earnings at $2.41 EPS, Q4 2023 earnings at $2.53 EPS, FY2023 earnings at $9.50 EPS, Q1 2024 earnings at $2.57 EPS, Q2 2024 earnings at $2.30 EPS, Q3 2024 earnings at $2.35 EPS, Q4 2024 earnings at $2.48 EPS and FY2024 earnings at $9.71 EPS.

Several other research analysts also recently commented on the stock. Mizuho reissued a “buy” rating and set a $151.00 price objective (up previously from $135.00) on shares of ConocoPhillips in a report on Tuesday, January 10th. Piper Sandler increased their price target on shares of ConocoPhillips from $155.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, December 19th. Morgan Stanley increased their price target on shares of ConocoPhillips from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, December 14th. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, December 7th. Finally, Truist Financial lowered their price target on shares of ConocoPhillips from $155.00 to $148.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $135.86.

ConocoPhillips Trading Up 1.8 %

Shares of ConocoPhillips stock opened at $121.80 on Friday. The company has a market capitalization of $151.77 billion, a P/E ratio of 8.78, a P/E/G ratio of 0.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.37 and a current ratio of 1.46. The company has a fifty day moving average of $119.47 and a 200 day moving average of $111.68. ConocoPhillips has a fifty-two week low of $78.30 and a fifty-two week high of $138.49.

ConocoPhillips (NYSE:COPGet Rating) last issued its earnings results on Thursday, November 3rd. The energy producer reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.19. The company had revenue of $21.61 billion during the quarter, compared to the consensus estimate of $17.05 billion. ConocoPhillips had a net margin of 22.90% and a return on equity of 35.02%.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently bought and sold shares of the company. Horan Securities Inc. lifted its stake in shares of ConocoPhillips by 81.8% during the fourth quarter. Horan Securities Inc. now owns 249 shares of the energy producer’s stock worth $29,000 after buying an additional 112 shares during the period. Delos Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 102.0% during the third quarter. Delos Wealth Advisors LLC now owns 297 shares of the energy producer’s stock worth $30,000 after buying an additional 150 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of ConocoPhillips by 82.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 252 shares of the energy producer’s stock worth $30,000 after buying an additional 114 shares during the period. Center for Financial Planning Inc. raised its holdings in shares of ConocoPhillips by 146.0% during the third quarter. Center for Financial Planning Inc. now owns 305 shares of the energy producer’s stock worth $31,000 after purchasing an additional 181 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in shares of ConocoPhillips by 30,200.0% during the third quarter. Activest Wealth Management now owns 303 shares of the energy producer’s stock worth $31,000 after purchasing an additional 302 shares during the last quarter. 81.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 4,860 shares of ConocoPhillips stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $112.58, for a total transaction of $547,138.80. Following the transaction, the director now directly owns 661,142 shares of the company’s stock, valued at $74,431,366.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other ConocoPhillips news, Director Timothy A. Leach sold 4,860 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $112.58, for a total value of $547,138.80. Following the completion of the sale, the director now directly owns 661,142 shares in the company, valued at $74,431,366.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $134.90, for a total transaction of $1,477,155.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, December 27th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.67%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, December 23rd. ConocoPhillips’s dividend payout ratio (DPR) is presently 14.70%.

ConocoPhillips Company Profile

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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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