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Brokers Offer Predictions for ConocoPhillips’ Q2 2022 Earnings (NYSE:COP)


ConocoPhillips (NYSE:COPGet Rating) – Equities researchers at Capital One Financial reduced their Q2 2022 EPS estimates for shares of ConocoPhillips in a research report issued on Friday, July 15th. Capital One Financial analyst P. Johnston now anticipates that the energy producer will post earnings per share of $3.81 for the quarter, down from their prior forecast of $3.91. The consensus estimate for ConocoPhillips’ current full-year earnings is $14.55 per share. Capital One Financial also issued estimates for ConocoPhillips’ FY2022 earnings at $13.14 EPS and FY2023 earnings at $9.43 EPS.

Several other research firms have also commented on COP. Morgan Stanley reduced their price target on shares of ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Barclays boosted their price target on shares of ConocoPhillips from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Truist Financial reduced their price target on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Raymond James boosted their price target on shares of ConocoPhillips from $120.00 to $160.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $119.17.

ConocoPhillips Trading Up 1.6 %

NYSE:COP opened at $82.89 on Monday. ConocoPhillips has a one year low of $51.41 and a one year high of $124.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. The firm has a market cap of $107.21 billion, a P/E ratio of 8.55, a P/E/G ratio of 0.30 and a beta of 1.40. The firm has a 50-day simple moving average of $101.11 and a 200-day simple moving average of $96.39.

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

ConocoPhillips Increases Dividend

The business also recently announced a dividend, which was paid on Friday, July 15th. Shareholders of record on Tuesday, June 28th were given a dividend of $0.70 per share. This represents a yield of 3.21%. The ex-dividend date of this dividend was Monday, June 27th. This is an increase from ConocoPhillips’s previous dividend of $0.30. ConocoPhillips’s payout ratio is currently 18.97%.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 584,900 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $121.21, for a total value of $70,895,729.00. Following the sale, the chief executive officer now directly owns 44,522 shares of the company’s stock, valued at approximately $5,396,511.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Timothy A. Leach sold 40,603 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $102.33, for a total transaction of $4,154,904.99. Following the sale, the director now directly owns 666,002 shares of the company’s stock, valued at $68,151,984.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Michael Lance sold 584,900 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the sale, the chief executive officer now directly owns 44,522 shares in the company, valued at $5,396,511.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 644,703 shares of company stock valued at $77,172,426. Insiders own 0.08% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of hedge funds have recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its position in ConocoPhillips by 21.1% during the fourth quarter. AE Wealth Management LLC now owns 56,843 shares of the energy producer’s stock worth $4,103,000 after acquiring an additional 9,908 shares during the period. Kestra Advisory Services LLC raised its position in shares of ConocoPhillips by 23.2% in the fourth quarter. Kestra Advisory Services LLC now owns 86,973 shares of the energy producer’s stock valued at $6,278,000 after buying an additional 16,403 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $377,000. Concord Wealth Partners raised its position in shares of ConocoPhillips by 192.1% in the fourth quarter. Concord Wealth Partners now owns 999 shares of the energy producer’s stock valued at $72,000 after buying an additional 657 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its position in shares of ConocoPhillips by 20.7% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 6,571 shares of the energy producer’s stock valued at $474,000 after buying an additional 1,128 shares during the last quarter. 78.80% of the stock is owned by hedge funds and other 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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