Conoco Phillips [NYSE: COP] closed the trading session at $111.10. The company report on February 8, 2024 at 7:00 AM that ConocoPhillips reports fourth-quarter and full-year 2023 results, 123% preliminary reserve replacement ratio; announces 2024 guidance and planned return of capital of $9B; declares quarterly ordinary dividend and variable return of cash distribution.
ConocoPhillips (NYSE: COP) today reported fourth-quarter 2023 earnings of $3.0 billion, or $2.52 per share, compared with fourth-quarter 2022 earnings of $3.2 billion, or $2.61 per share. Excluding special items, fourth-quarter 2023 adjusted earnings were $2.9 billion, or $2.40 per share, compared with fourth-quarter 2022 adjusted earnings of $3.4 billion, or $2.71 per share. Special items for the current quarter were comprised of a benefit related to the reversal of a tax reserve, partially offset by a loss on foreign exchange contracts.
Full-year 2023 earnings were $11.0 billion, or $9.06 per share, compared with full-year 2022 earnings of $18.7 billion, or $14.57 per share. Excluding special items, full-year 2023 adjusted earnings were $10.6 billion or $8.77 per share, compared with full-year 2022 adjusted earnings of $17.3 billion, or $13.52 per share.
The stocks have a year to date performance of -4.28 percent and weekly performance of 1.03 percent. The stock has been moved at -5.22 percent over the last six months. The stock has performed 0.09 percent around the most recent 30 days and changed -2.67 percent over the most recent 3-months.
If compared to the average trading volume of 0.99 shares, COP reached to a volume of 5801850 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Conoco Phillips [COP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $136.02 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 1.53. 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.
Johnson Rice have made an estimate for Conoco Phillips shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 14, 2023.
The Average True Range (ATR) for Conoco Phillips is set at 2.29, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.22. The Price to Book ratio for the last quarter was 2.76, with the Price to Cash per share for the same quarter was set at 7.96. Price to Free Cash Flow for COP in the course of the last twelve months was 12.69 with Quick ratio for the last quarter at 1.53.
COP stock trade performance evaluation
Conoco Phillips [COP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.03. With this latest performance, COP shares gained by 0.09% in over the last four-week period, additionally sinking by -5.22% over the last 6 months – not to mention a rise of 2.81% 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 47.34, with the RSI for the last a single of trading hit 47.46, and the three-weeks RSI is set at 47.00 for Conoco Phillips [COP]. The present Moving Average for the last 50 days of trading for this stock 113.03, while it was recorded at 112.00 for the last single week of trading, and 112.51 for the last 200 days.
Conoco Phillips [COP]: An insightful look at the core fundamentals
Conoco Phillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.53 and a Current Ratio set at 1.66.
Earnings per share (EPS) analysis for Conoco Phillips [COP] stock
With the latest financial reports released by the company, Conoco Phillips posted 2.38/share EPS, while the average EPS was predicted by analysts to be reported at 2.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.10%. 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 Conoco Phillips go to -10.12%.
Conoco Phillips [COP]: Institutional Ownership
The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COP stock with ownership which is approximately 5.8325%.
