ConocoPhillips (NYSE:COP) Issues Earnings Results

ConocoPhillips (NYSE:COP) released its quarterly earnings results on Thursday. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20, Zacks reports. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%.

ConocoPhillips Price Performance

COP traded down $0.28 during trading on Thursday, reaching $99.93. The stock had a trading volume of 8,517,449 shares, compared to its average volume of 5,788,718. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a market capitalization of $115.01 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The stock has a 50 day moving average of $101.40 and a two-hundred day moving average of $106.32. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.12%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Buying and Selling

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Barclays increased their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $135.89.

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.