ConocoPhillips (NYSE:COP) Releases Quarterly Earnings Results

ConocoPhillips (NYSE:COP) released its quarterly earnings data on Thursday. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10, Briefing.com reports. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 earnings per share.

ConocoPhillips Price Performance

Shares of COP stock opened at $107.84 on Friday. The stock has a market cap of $125.23 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.84 and a beta of 1.21. The business’s fifty day moving average is $107.94 and its 200 day moving average is $113.02. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. 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%. ConocoPhillips’s payout ratio is 25.86%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

COP has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Sanford C. Bernstein reduced their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday. Finally, Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.