ConocoPhillips-Marathon Synergy Will Boost Free Cash Flow And Stock Buyback: Analyst [Yahoo! Finance]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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US:NYSE Investor Relations:
conocophillips.com/investor-relations/investor-presentations
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Source: Yahoo! Finance
On Thursday, ConocoPhillips reported an adjusted EPS of $1.78, beating estimates; revenue of $13.6 billion vs. $14 billion expected. The company boosted its quarterly dividend by 34% to $0.78/share. The company raised the outlook for FY24 production to 1.94-1.95 MMBOED (from 1.93 to 1.94 MMBOED) Truist Securities analyst Neal Dingmann expects pro forma FCF to rise substantially due to strong organic performance and additional cash flow from Marathon Oil . The analyst reiterated the Buy rating and $138 price target on COP. With stable prices, ConocoPhillips could potentially repurchase nearly all shares issued to MRO within 6-7 quarters, assuming the dividend remains steady and debt repayment is deprioritized, given the company's strong balance sheet, adds the analyst. The analyst says that ConocoPhillips' FCF is anticipated to be driven by a balanced portfolio, including Lower 48 activities, LNG projects, and Alaskan operations. Dingmann revised EBITDAX estimates to $24.988
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COP
Earnings
- 10/31/24 - Beat
COP
Sec Filings
- 11/4/24 - Form 4
- 11/4/24 - Form 4
- 10/31/24 - Form 10-Q
- COP's page on the SEC website