ConocoPhillips (NYSE:COP) Issues Quarterly Earnings Results

ConocoPhillips (NYSE:COPGet Rating) issued its quarterly earnings data on Thursday. The energy producer reported $3.91 earnings per share for the quarter, missing the consensus estimate of $3.95 by ($0.04), Briefing.com reports. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. During the same period in the prior year, the firm earned $1.27 EPS.

ConocoPhillips Stock Up 3.3 %

ConocoPhillips stock traded up $2.97 during mid-day trading on Friday, reaching $92.85. 5,827,745 shares of the company were exchanged, compared to its average volume of 8,461,364. The business has a fifty day moving average of $97.39 and a 200 day moving average of $97.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. The firm has a market cap of $120.10 billion, a P/E ratio of 9.60, a PEG ratio of 0.30 and a beta of 1.38. ConocoPhillips has a 12-month low of $51.41 and a 12-month high of $124.08.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 1.98%. ConocoPhillips’s dividend payout ratio is currently 18.97%.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 584,900 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the completion of the sale, the chief executive officer now owns 44,522 shares in the company, valued at $5,396,511.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Ryan Michael Lance sold 584,900 shares of the company’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $121.21, for a total transaction of $70,895,729.00. Following the transaction, the chief executive officer now directly owns 44,522 shares of the company’s stock, valued at $5,396,511.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 19,200 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $110.51, for a total value of $2,121,792.00. The disclosure for this sale can be found here. Insiders sold a total of 644,703 shares of company stock worth $77,172,426 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Large investors have recently made changes to their positions in the business. PFS Investments Inc. acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $469,000. Range Financial Group LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $341,000. Achmea Investment Management B.V. increased its position in shares of ConocoPhillips by 26.6% in the 1st quarter. Achmea Investment Management B.V. now owns 2,911 shares of the energy producer’s stock valued at $292,000 after acquiring an additional 611 shares during the period. Plancorp LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $282,000. Finally, SS&H Financial Advisors Inc. acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $281,000. 78.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of several analyst reports. Societe Generale boosted their price objective on ConocoPhillips to $127.00 in a research note on Thursday, June 9th. StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, May 14th. Barclays boosted their target price on ConocoPhillips from $132.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, June 14th. Truist Financial dropped their target price on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Finally, MKM Partners restated a “buy” rating and set a $110.00 target price on shares of ConocoPhillips in a research report on Wednesday, July 20th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.37.

About ConocoPhillips

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's 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.

See Also

Earnings History for ConocoPhillips (NYSE:COP)

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