ConocoPhillips (NYSE:COP) – Equities research analysts at Capital One Financial issued their Q1 2020 earnings per share (EPS) estimates for ConocoPhillips in a research note issued on Tuesday, February 11th. Capital One Financial analyst P. Johnston expects that the energy producer will earn $0.63 per share for the quarter. Capital One Financial has a “Overweight” rating and a $70.00 price target on the stock. Capital One Financial also issued estimates for ConocoPhillips’ Q2 2020 earnings at $0.68 EPS, Q3 2020 earnings at $0.69 EPS, Q4 2020 earnings at $0.74 EPS, FY2020 earnings at $2.74 EPS, FY2021 earnings at $3.09 EPS, FY2022 earnings at $2.38 EPS, FY2023 earnings at $2.56 EPS and FY2024 earnings at $2.78 EPS.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.05). ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same quarter in the previous year, the business posted $1.13 EPS.
Shares of COP opened at $58.62 on Thursday. ConocoPhillips has a 52-week low of $50.13 and a 52-week high of $71.01. The business’s fifty day moving average is $62.80 and its 200-day moving average is $58.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.26 and a current ratio of 2.40. The firm has a market cap of $63.50 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 2.70 and a beta of 1.11.
A number of hedge funds have recently modified their holdings of COP. Point72 Hong Kong Ltd lifted its holdings in ConocoPhillips by 45.9% during the 4th quarter. Point72 Hong Kong Ltd now owns 17,900 shares of the energy producer’s stock worth $1,164,000 after buying an additional 5,634 shares during the period. Point72 Asset Management L.P. lifted its holdings in ConocoPhillips by 119.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,346,889 shares of the energy producer’s stock worth $152,618,000 after buying an additional 1,279,032 shares during the period. Altavista Wealth Management Inc. lifted its holdings in ConocoPhillips by 13.8% during the 4th quarter. Altavista Wealth Management Inc. now owns 22,910 shares of the energy producer’s stock worth $1,490,000 after buying an additional 2,781 shares during the period. Captrust Financial Advisors lifted its holdings in ConocoPhillips by 429.1% during the 4th quarter. Captrust Financial Advisors now owns 201,430 shares of the energy producer’s stock worth $13,186,000 after buying an additional 163,357 shares during the period. Finally, Bluefin Trading LLC acquired a new position in ConocoPhillips during the 4th quarter worth about $2,754,000. Institutional investors and hedge funds own 71.50% of the company’s stock.
In related news, President William L. Jr. Bullock sold 25,628 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total transaction of $1,618,920.76. Following the sale, the president now owns 32,926 shares in the company, valued at approximately $2,079,935.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 14th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. ConocoPhillips’s dividend payout ratio is currently 46.80%.
ConocoPhillips declared that its Board of Directors has approved a stock buyback program on Tuesday, February 4th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the energy producer to repurchase up to 15.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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 tight oil reservoirs, LNG, oil sands, and other production operations. Its 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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