ConocoPhillips [NYSE: COP] jumped around 0.19 points on Friday, while shares priced at $40.82 at the close of the session, up 0.47%. The company report on July 30, 2020 that ConocoPhillips Reports Second-Quarter 2020 Results.
ConocoPhillips (NYSE: COP) today reported second-quarter 2020 earnings of $0.3 billion, or $0.24 per share, compared with second-quarter 2019 earnings of $1.6 billion, or $1.40 per share. Excluding special items, second-quarter 2020 adjusted earnings were a loss of $1.0 billion, or ($0.92) per share, compared with second-quarter 2019 adjusted earnings of $1.1 billion, or $1.01 per share. Special items for the current quarter were primarily due to a realized gain on the completion of the Australia-West divestiture and an unrealized gain on Cenovus Energy equity. Cash provided by operating activities was $0.2 billion. Excluding working capital, cash from operations (CFO) was $0.7 billion.
“Headline second-quarter performance was dominated by weak realized prices, coupled with our rational economic action to curtail production in favor of expected higher future prices,” said Ryan Lance, chairman and chief executive officer. “Importantly, our underlying business results were strong, reflecting our ongoing commitment to safely executing our plans and the dedication of our workforce during this challenging time. We are monitoring the market closely to develop a view around the timing and path of price recovery and to guide our corresponding actions. For example, as the market strengthened late in the second quarter, we began reversing our second-quarter curtailments and ramping up production across the Lower 48, Alaska and Canada. Our financial strength, flexibility and portfolio diversity represent a distinct competitive advantage that enables us to navigate and preserve value in this volatile environment.”.
ConocoPhillips stock is now -37.23% down from its year-to-date (YTD) trading value. COP Stock saw the intraday high of $41.00 and lowest of $39.96 per share. The company’s 52-week high price is 67.13, which means current price is +95.87% above from all time high which was touched on 01/03/20.
Compared to the average trading volume of 7.07M shares, COP reached a trading volume of 3349225 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about ConocoPhillips [COP]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $50.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COP stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for ConocoPhillips shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 05, 2020. The new note on the price target was released on June 12, 2020, representing the official price target for ConocoPhillips stock. Previously, the target price had yet another raise from $43 to $46, while BofA/Merrill kept a Neutral rating on COP stock.
The Average True Range (ATR) for ConocoPhillips is set at 1.45, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 1.80. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 6.46. Price to Free Cash Flow for COP in the course of the last twelve months was 631.57 with Quick ratio for the last quarter at 2.50.
How has COP stock performed recently?
ConocoPhillips [COP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.58. With this latest performance, COP shares dropped by -1.85% in over the last four-week period, additionally sinking by -30.37% over the last 6 months – not to mention a drop of -19.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COP stock in for the last two-week period is set at 53.38, with the RSI for the last a single of trading hit 59.08, and the three-weeks RSI is set at 51.71 for ConocoPhillips [COP]. The present Moving Average for the last 50 days of trading for this stock 41.39, while it was recorded at 40.49 for the last single week of trading, and 47.90 for the last 200 days.
ConocoPhillips [COP]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and ConocoPhillips [COP] shares currently have an operating margin of +21.70 and a Gross Margin at +26.36. ConocoPhillips’s Net Margin is presently recorded at +22.17.
Return on Total Capital for COP is now 14.38, given the latest momentum, and Return on Invested Capital for the company is 14.80. Return on Equity for this stock inclined to 21.49, with Return on Assets sitting at 10.23. When it comes to the capital structure of this company, ConocoPhillips [COP] has a Total Debt to Total Equity ratio set at 45.24. Additionally, COP Total Debt to Total Capital is recorded at 31.15, with Total Debt to Total Assets ending up at 22.45. Long-Term Debt to Equity for the company is recorded at 43.95, with the Long-Term Debt to Total Capital now at 30.26.
Reflecting on the efficiency of the workforce at the company, ConocoPhillips [COP] managed to generate an average of $691,250 per employee. Receivables Turnover for the company is 8.68 with a Total Asset Turnover recorded at a value of 0.46.ConocoPhillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.70.
Earnings analysis for ConocoPhillips [COP]
With the latest financial reports released by the company, ConocoPhillips posted 0.82/share EPS, while the average EPS was predicted by analysts to be reported at 0.73/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ConocoPhillips go to -0.21%.
Insider trade positions for ConocoPhillips [COP]
There are presently around $32,281 million, or 75.30% of COP stock, in the hands of institutional investors. The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 91,744,102, which is approximately 0.009% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 86,244,105 shares of the stock with an approximate value of $3.52 billion in COP stocks shares; and STATE STREET CORP, currently with $2.2 billion in COP stock with ownership of nearly 1.416% of the company’s market capitalization.
Positions in ConocoPhillips stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 589 institutional holders increased their position in ConocoPhillips [NYSE:COP] by around 45,257,040 shares. Additionally, 776 investors decreased positions by around 46,470,179 shares, while 149 investors held positions by with 699,095,248 shares. The mentioned changes placed institutional holdings at 790,822,467 shares, according to the latest SEC report filing. COP stock had 175 new institutional investments in for a total of 5,291,769 shares, while 119 institutional investors sold positions of 7,274,707 shares during the same period.