ConocoPhillips Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

ConocoPhillips COP is set to release earnings results for its first quarter before the opening bell on May 2, 2024.

Analysts expect the Houston, Texas-based company to report quarterly earnings at $2.04 per share, down from $2.38 per share in the year-ago period. ConocoPhillips is projected to report quarterly revenue of $15.05 billion, compared to $15.74 billion in the year-earlier quarter, according to data from Benzinga Pro.

On Feb. 8, ConocoPhillips said fourth-quarter revenue of $15.307 billion missed the consensus of $15.942 billion, while adjusted EPS of $2.40 beat the consensus of $2.09.

ConocoPhillips shares fell 1% to close at $124.34 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Jefferies analyst Rob Dickerson maintained a Hold rating and cut the price target from $55 to $54 on March 11. This analyst has an accuracy rate of 67%.
• DA Davidson analyst Brian Holland initiated coverage on the stock with a Buy rating and a price target of $67 on March 1. This analyst has an accuracy rate of 60%.
• Piper Sandler analyst Michael Lavery maintained a Neutral rating and raised the price target from $59 to $60 on Feb. 12. This analyst has an accuracy rate of 70%.
• JP Morgan analyst Ken Goldman maintained a Neutral rating and increased the price target from $53 to $59 on Feb. 9. This analyst has an accuracy rate of 81%.
• Wells Fargo analyst John Baumgartner maintained an Equal-Weight rating and boosted the price target from $56 to $58 on Feb. 9. This analyst has an accuracy rate of 66%.

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