Piper Jaffray Companies Comments on ConocoPhillips’ Q1 2019 Earnings (COP)

ConocoPhillips (NYSE:COP) – Stock analysts at Piper Jaffray Companies boosted their Q1 2019 earnings estimates for shares of ConocoPhillips in a report released on Monday, February 11th. Piper Jaffray Companies analyst B. Fernandez now forecasts that the energy producer will post earnings of $0.82 per share for the quarter, up from their previous forecast of $0.61. Piper Jaffray Companies currently has a “Hold” rating on the stock. Piper Jaffray Companies also issued estimates for ConocoPhillips’ Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.84 EPS, Q4 2019 earnings at $0.93 EPS, FY2019 earnings at $3.37 EPS, Q1 2020 earnings at $0.88 EPS, Q2 2020 earnings at $0.85 EPS, Q3 2020 earnings at $0.89 EPS, Q4 2020 earnings at $0.94 EPS and FY2020 earnings at $3.55 EPS.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, January 31st. The energy producer reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the prior year, the company posted $0.45 EPS.

A number of other equities analysts have also issued reports on COP. Mizuho reissued a “hold” rating and issued a $82.00 price objective on shares of ConocoPhillips in a report on Monday, October 22nd. ValuEngine lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Bank of America raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Monday, October 29th. BMO Capital Markets set a $78.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Monday, November 12th. Finally, Morgan Stanley decreased their price objective on ConocoPhillips from $88.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $76.41.

Shares of COP stock opened at $67.78 on Wednesday. ConocoPhillips has a 12-month low of $52.54 and a 12-month high of $80.24. The company has a market capitalization of $76.83 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.79 and a quick ratio of 1.66.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after acquiring an additional 451,104 shares during the last quarter. Vanguard Group Inc lifted its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock valued at $6,855,456,000 after acquiring an additional 451,104 shares during the last quarter. BlackRock Inc. lifted its position in shares of ConocoPhillips by 1.0% during the 4th quarter. BlackRock Inc. now owns 80,608,101 shares of the energy producer’s stock valued at $5,025,913,000 after acquiring an additional 809,773 shares during the last quarter. Capital World Investors lifted its position in shares of ConocoPhillips by 2.4% during the 3rd quarter. Capital World Investors now owns 65,981,471 shares of the energy producer’s stock valued at $5,106,966,000 after acquiring an additional 1,571,260 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of ConocoPhillips by 5.8% during the 4th quarter. Northern Trust Corp now owns 15,650,146 shares of the energy producer’s stock valued at $975,786,000 after acquiring an additional 861,057 shares during the last quarter. Institutional investors own 72.30% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Monday, February 11th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, February 8th. ConocoPhillips’s payout ratio is currently 26.93%.

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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Earnings History and Estimates for ConocoPhillips (NYSE:COP)

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