Brokers Issue Forecasts for ConocoPhillips’ FY2022 Earnings (NYSE:COP)
ConocoPhillips (NYSE:COP – Get Rating) – Equities research analysts at Jefferies Financial Group issued their FY2022 earnings per share estimates for shares of ConocoPhillips in a report released on Tuesday, October 18th. Jefferies Financial Group analyst L. Byrne anticipates that the energy producer will post earnings per share of $13.96 for the year. Jefferies Financial Group has a “Buy” rating and a $143.00 price target on the stock. The consensus estimate for ConocoPhillips’ current full-year earnings is $14.59 per share. Jefferies Financial Group also issued estimates for ConocoPhillips’ FY2023 earnings at $11.80 EPS and FY2025 earnings at $8.00 EPS.
ConocoPhillips (NYSE:COP – Get Rating) last announced its earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.13. ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. The company had revenue of $21.99 billion for the quarter, compared to analysts’ expectations of $19.71 billion. During the same period last year, the firm earned $1.27 EPS.
A number of other brokerages have also issued reports on COP. Mizuho cut their price target on ConocoPhillips from $148.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, August 18th. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Wednesday, October 5th. Citigroup increased their price target on ConocoPhillips from $115.00 to $132.00 in a research note on Tuesday. Bank of America increased their price target on ConocoPhillips from $134.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Barclays cut their price target on ConocoPhillips from $153.00 to $135.00 and set an “overweight” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.81.
ConocoPhillips Price Performance
Shares of ConocoPhillips stock opened at $121.81 on Friday. ConocoPhillips has a one year low of $66.06 and a one year high of $124.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54. The stock has a market cap of $157.56 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.42 and a beta of 1.27. The stock’s fifty day moving average is $110.67 and its 200 day moving average is $102.98.
ConocoPhillips Announces Dividend
The business also recently declared a None dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were given a $1.40 dividend. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s dividend payout ratio is currently 15.19%.
Insider Buying and Selling
In related news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by company insiders.
Institutional Trading of ConocoPhillips
Several institutional investors have recently added to or reduced their stakes in COP. James Investment Research Inc. bought a new stake in ConocoPhillips in the first quarter worth about $29,000. Center for Financial Planning Inc. lifted its stake in ConocoPhillips by 146.0% in 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. Activest Wealth Management lifted its stake in ConocoPhillips by 30,200.0% in 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. Fairfield Bush & CO. bought a new stake in ConocoPhillips in the first quarter worth about $31,000. Finally, Heritage Financial Services LLC bought a new stake in ConocoPhillips in the second quarter worth about $36,000. Institutional investors own 79.66% of the company’s stock.
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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