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

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

ConocoPhillips Stock Down 1.6 %

Shares of COP stock traded down $1.70 during trading on Friday, reaching $107.84. The company’s stock had a trading volume of 7,427,791 shares, compared to its average volume of 5,908,149. The company has a market cap of $125.23 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The business has a fifty day moving average price of $108.01 and a 200-day moving average price of $113.17. 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 declared 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. 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 is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on COP shares. Truist Financial reduced their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Susquehanna raised their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.