ConocoPhillips [NYSE: COP] loss -2.41% or -3.1 points to close at $125.49 with a heavy trading volume of 6571023 shares. The company report on November 3, 2022 that ConocoPhillips Reports Third-Quarter 2022 Results; Announces 11% Increase to Quarterly Ordinary Dividend, Declares Variable Return of Cash Distribution and Increases Existing Share Repurchase Authorization by $20 Billion.
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ConocoPhillips (NYSE: COP) today reported third-quarter 2022 earnings of $4.5 billion, or $3.55 per share, compared with third-quarter 2021 earnings of $2.4 billion, or $1.78 per share. Excluding special items, third-quarter 2022 adjusted earnings were $4.6 billion, or $3.60 per share, compared with third-quarter 2021 adjusted earnings of $2.4 billion, or $1.77 per share. Special items for the current quarter were primarily driven by a loss on asset sales.
“We continue to deliver competitive returns, meet global energy needs and reduce our emissions consistent with our Triple Mandate. ConocoPhillips distributed $4.3 billion to our shareholders in the third quarter and announced an increase to our ordinary dividend effective in the fourth quarter. Our Lower 48 business unit accomplished record production of more than 1 million barrels of oil equivalent per day. We expanded our global LNG portfolio with opportunities in QatarEnergy’s North Field South LNG project and have agreed to capacity at the prospective German LNG Terminal, enhancing our focus on this valuable energy transition fuel,” said Ryan Lance, chairman and chief executive officer. “By concentrating on low cost-of-supply and low greenhouse gas production, ConocoPhillips is well positioned to compete in near-term cycles and over the long term.”.
It opened the trading session at $125.04, the shares rose to $127.11 and dropped to $121.81, the range by which the price of stock traded the whole day. The daily chart for COP points out that the company has recorded 17.67% gains over the past six months. However, it is still -95.32% lower than its most recent low trading price.
If we look at the average trading volume of 7.42M shares, COP reached to a volume of 6571023 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $135.67 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.
Societe Generale have made an estimate for ConocoPhillips shares, keeping their opinion on the stock as Sell, with their previous recommendation back on November 21, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 19, 2022, representing the official price target for ConocoPhillips stock. Previously, the target price had yet another raise from $134 to $140, while BofA Securities kept a Buy rating on COP stock.
The Average True Range (ATR) for ConocoPhillips is set at 4.89, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 3.24, with the Price to Cash per share for the same quarter was set at 8.20. Price to Free Cash Flow for COP in the course of the last twelve months was 11.03 with Quick ratio for the last quarter at 1.40.
Trading performance analysis for COP stock
ConocoPhillips [COP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.67. With this latest performance, COP shares gained by 0.80% in over the last four-week period, additionally plugging by 17.67% over the last 6 months – not to mention a rise of 85.35% 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 48.50, with the RSI for the last a single of trading hit 42.65, and the three-weeks RSI is set at 51.68 for ConocoPhillips [COP]. The present Moving Average for the last 50 days of trading for this stock 119.98, while it was recorded at 129.72 for the last single week of trading, and 104.61 for the last 200 days.
ConocoPhillips [COP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and ConocoPhillips [COP] shares currently have an operating margin of +26.87 and a Gross Margin at +31.98. ConocoPhillips’s Net Margin is presently recorded at +17.54.
Return on Equity for this stock inclined to 21.47, with Return on Assets sitting at 10.54.
ConocoPhillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.
ConocoPhillips [COP]: An earnings per share (EPS) analysis
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 27.00%.
An analysis of insider ownership at ConocoPhillips [COP]
There are presently around $128,731 million, or 83.50% of COP stock, in the hands of institutional investors. The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 113,171,744, which is approximately 0.332% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 96,687,431 shares of the stock with an approximate value of $12.13 billion in COP stocks shares; and STATE STREET CORP, currently with $7.63 billion in COP stock with ownership of nearly -4.485% of the company’s market capitalization.
Positions in ConocoPhillips stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 889 institutional holders increased their position in ConocoPhillips [NYSE:COP] by around 46,691,368 shares. Additionally, 889 investors decreased positions by around 49,712,500 shares, while 335 investors held positions by with 929,422,956 shares. The mentioned changes placed institutional holdings at 1,025,826,824 shares, according to the latest SEC report filing. COP stock had 136 new institutional investments in for a total of 3,221,223 shares, while 102 institutional investors sold positions of 3,656,519 shares during the same period.