ConocoPhillips (NYSE:COP) Posts Earnings Results, Beats Expectations By $0.10 EPS

ConocoPhillips (NYSE:COP) issued its quarterly earnings results on Thursday. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10, Briefing.com reports. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS.

ConocoPhillips Stock Performance

COP stock opened at $107.84 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.30. The stock has a market cap of $125.23 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.90 and a beta of 1.21. The firm has a 50 day simple moving average of $107.94 and a 200 day simple moving average of $112.90. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research assumed coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Finally, Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.