ConocoPhillips (NYSE:COP) Posts Earnings Results, Beats Expectations By $0.02 EPS

ConocoPhillips (NYSE:COP) released its quarterly earnings results on Thursday. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02, Briefing.com reports. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS.

ConocoPhillips Trading Down 2.4 %

NYSE COP traded down $2.62 during mid-day trading on Friday, hitting $105.77. The company’s stock had a trading volume of 7,445,068 shares, compared to its average volume of 5,694,223. The firm has a market capitalization of $123.70 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21. ConocoPhillips has a 52-week low of $103.98 and a 52-week high of $135.18. The stock’s fifty day simple moving average is $112.75 and its two-hundred day simple moving average is $117.10.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COP shares. Scotiabank decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Bank of America reiterated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Barclays upped their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.06.

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.