ConocoPhillips (NYSE:COP) – Stock analysts at Capital One Financial reduced their Q3 2020 earnings per share estimates for shares of ConocoPhillips in a research note issued on Monday, October 19th. Capital One Financial analyst P. Johnston now forecasts that the energy producer will post earnings of ($0.24) per share for the quarter, down from their previous estimate of ($0.22). Capital One Financial also issued estimates for ConocoPhillips’ FY2020 earnings at ($0.71) EPS.
Several other brokerages have also commented on COP. Piper Sandler upped their price objective on shares of ConocoPhillips from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Royal Bank of Canada restated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, October 14th. UBS Group upped their price objective on shares of ConocoPhillips from $50.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Credit Suisse Group began coverage on shares of ConocoPhillips in a report on Tuesday, August 4th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Truist raised shares of ConocoPhillips to a “buy” rating and increased their target price for the company from $51.00 to $52.00 in a research report on Friday, October 9th. Five research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $54.50.
NYSE COP traded down $0.62 on Wednesday, reaching $31.96. 236,283 shares of the company’s stock traded hands, compared to its average volume of 8,699,020. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 16.05 and a beta of 1.68. The stock has a 50 day moving average price of $34.44 and a 200-day moving average price of $38.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.45 and a current ratio of 2.69. ConocoPhillips has a fifty-two week low of $20.84 and a fifty-two week high of $67.13.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 30th. The energy producer reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.34). ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the firm earned $1.01 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, October 19th will be given a $0.43 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date is Friday, October 16th. ConocoPhillips’s dividend payout ratio is 47.91%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in COP. Blue Square Asset Management LLC purchased a new stake in ConocoPhillips during the 2nd quarter valued at about $28,000. Lenox Wealth Advisors LLC boosted its holdings in ConocoPhillips by 2,105.6% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 794 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 758 shares during the last quarter. Bay Harbor Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 3,096.2% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 831 shares of the energy producer’s stock worth $26,000 after acquiring an additional 805 shares during the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at $34,000. Finally, JJJ Advisors Inc. increased its holdings in ConocoPhillips by 126.1% during the 2nd quarter. JJJ Advisors Inc. now owns 1,178 shares of the energy producer’s stock valued at $49,000 after acquiring an additional 657 shares in the last quarter. 72.02% of the stock is owned by institutional investors.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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