ConocoPhillips (NYSE:COP) – Investment analysts at Piper Jaffray Companies increased their FY2018 earnings estimates for shares of ConocoPhillips in a research report issued on Tuesday, November 6th. Piper Jaffray Companies analyst B. Fernandez now anticipates that the energy producer will post earnings of $4.86 per share for the year, up from their prior forecast of $4.64. Piper Jaffray Companies also issued estimates for ConocoPhillips’ Q4 2018 earnings at $1.46 EPS, Q1 2019 earnings at $1.57 EPS, Q2 2019 earnings at $1.53 EPS, Q3 2019 earnings at $1.54 EPS, Q4 2019 earnings at $1.60 EPS, FY2019 earnings at $6.23 EPS, Q1 2020 earnings at $1.51 EPS, Q2 2020 earnings at $1.43 EPS, Q3 2020 earnings at $1.42 EPS and FY2020 earnings at $5.83 EPS.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.19. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.48 billion. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%.
COP stock opened at $69.50 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. ConocoPhillips has a 52 week low of $48.97 and a 52 week high of $80.24. The stock has a market capitalization of $78.10 billion, a P/E ratio of 115.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.22.
ConocoPhillips announced that its board has initiated a stock repurchase plan on Thursday, July 12th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the energy producer to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, October 15th will be issued a dividend of $0.305 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, October 12th. This represents a $1.22 annualized dividend and a yield of 1.76%. ConocoPhillips’s dividend payout ratio (DPR) is presently 203.33%.
In other ConocoPhillips news, VP Glenda Mae Schwarz sold 18,882 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the completion of the transaction, the vice president now owns 29,064 shares in the company, valued at approximately $2,067,903.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Ryan Michael Lance sold 160,064 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total transaction of $11,535,812.48. Following the transaction, the chairman now owns 106,312 shares of the company’s stock, valued at approximately $7,661,905.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,378 shares of company stock valued at $20,769,145. Company insiders own 0.88% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. IMA Wealth Inc. acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $100,000. Acropolis Investment Management LLC acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $107,000. Palo Capital Inc. acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $131,000. Adviser Investments LLC grew its position in shares of ConocoPhillips by 139.4% during the 2nd quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock worth $136,000 after buying an additional 1,139 shares during the period. Finally, Lucia Wealth Services LLC grew its position in shares of ConocoPhillips by 541.3% during the 2nd quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock worth $157,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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