ConocoPhillips (NYSE:COP) Announces Quarterly Earnings Results, Misses Expectations By $0.34 EPS

ConocoPhillips (NYSE:COP) released its quarterly earnings data on Thursday. The energy producer reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.34), MarketWatch Earnings reports. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.19 billion. ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. During the same quarter last year, the business earned $1.01 earnings per share.

NYSE COP traded down $0.25 on Friday, reaching $37.39. The stock had a trading volume of 7,721,107 shares, compared to its average volume of 6,250,089. The business has a 50 day moving average price of $41.34 and a 200 day moving average price of $44.25. The company has a current ratio of 2.69, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. ConocoPhillips has a 1 year low of $20.84 and a 1 year high of $67.13. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 18.42 and a beta of 1.69.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, July 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.49%. ConocoPhillips’s dividend payout ratio is 46.80%.

In other news, Director David Thomas Seaton bought 2,400 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $41.03 per share, for a total transaction of $98,472.00. Following the completion of the purchase, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $102,575. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Several equities research analysts have issued reports on the company. Piper Sandler lifted their price objective on ConocoPhillips from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. MKM Partners boosted their price target on ConocoPhillips from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $46.00 in a research report on Friday, May 1st. They noted that the move was a valuation call. Finally, Royal Bank of Canada reissued a “buy” rating on shares of ConocoPhillips in a research note on Monday, July 6th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $56.25.

About ConocoPhillips

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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Earnings History for ConocoPhillips (NYSE:COP)

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