- Conoco Beats Earnings Estimates: Adjusted EPS of $1.98 compared to estimates of $1.94 and last year’s $1.84
- Increased Adjusted Net Income: $2.33 billion, a 4.3% increase year-over-year, surpassing the $2.31 billion estimate
- Strong Production Numbers: Total production of 1,945 mboed
- Surge in Cash Flow: Cash flow from operations at $4.92 billion, a 28% rise year-over-year, beating the $4.69 billion estimate
- Average Realized Oil Price: $56.56 per barrel
- Production Guidance: Full-year production expected to be 1.93 to 1.94 MMBOED, reflecting strong Q2 results, compared to prior guidance of 1.91 to 1.95 MMBOED
- Capital Expenditures Update: Full-year guidance updated to $11.5 billion due to strong progress on Willow and increased activity in the Lower 48
- Analyst Ratings: 24 buys, 7 holds, 0 sells
Conocophillips on Smartkarma
Analyst coverage of ConocoPhillips on Smartkarma by Baptista Research highlights the company’s increasing focus on Permian Gas & LNG Expansion as major drivers for growth. The latest earnings for Q1 2024 showcased ConocoPhillips’ strategic plan execution, including new projects and capital-efficient growth in the lower 48 states. With expectations of low single-digit production growth and spending less capital than prior years, the company is ramping up production globally, with significant developments in Canada, China, and Norway, making notable progress in LNG operations.
In another report by Baptista Research on ConocoPhillips, the emphasis is on the expansion of LNG operations potentially leading to a solid 2024. The company’s Fourth Quarter 2023 Earnings demonstrated strong execution across its investment mandate, achieving record production and positioning itself as a leader in reserve replacement. Noteworthy advancements in the global LNG strategy, such as expansion in Qatar, FID at Port Arthur, and key agreements, suggest a promising outlook for ConocoPhillips as it continues to drive growth through strategic expansions and operational excellence.
A look at Conocophillips Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
ConocoPhillips, a global energy company, operates in the exploration, production, transportation, and marketing of various energy products. The company has shown strong performance across different aspects according to the Smartkarma Smart Scores. With high scores in Growth and Dividend, ConocoPhillips seems well-positioned for long-term success in the energy sector.
Although ConocoPhillips exhibits favorable scores in Growth and Dividend, the company’s overall outlook may face challenges in terms of Value, Resilience, and Momentum based on the Smartkarma Smart Scores. Investors may need to closely monitor how ConocoPhillips navigates these areas to maintain its competitive edge in the energy market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
