Financials ConocoPhillips

Equities

COP

US20825C1045

Oil & Gas Exploration and Production

Real-time Estimate Cboe BZX Other stock markets 02:16:34 2024-05-03 pm EDT			5-day change	1st Jan Change
121.5 ^USD	-0.60%		-6.56%	+4.84%

05:19pm	Wolfe Research Adjusts Price Target on ConocoPhillips to $136 From $137	MT
05:16pm	News Highlights : Top Energy News of the Day - Friday at 11 AM ET	DJ

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	71,355	42,708	95,202	147,036	137,822	143,167	-	-
Enterprise Value (EV) ¹	78,134	51,477	109,662	154,436	150,153	154,894	153,389	151,374
P/E ratio	10.2 x	-15.9 x	11.9 x	8.1 x	12.3 x	14.1 x	12.6 x	12.4 x
Yield	2.05%	4.23%	2.42%	1.6%	1.82%	1.91%	2.12%	2.75%
Capitalization / Revenue	1.95 x	2.22 x	1.97 x	1.79 x	2.35 x	2.34 x	2.26 x	2.31 x
EV / Revenue	2.13 x	2.67 x	2.27 x	1.88 x	2.56 x	2.53 x	2.42 x	2.45 x
EV / EBITDA	4.55 x	12.3 x	5.05 x	4.21 x	5.84 x	5.65 x	5.74 x	5.73 x
EV / FCF	17.5 x	592 x	10.5 x	8.51 x	17.2 x	16.1 x	14.4 x	13.5 x
FCF Yield	5.72%	0.17%	9.48%	11.8%	5.81%	6.2%	6.92%	7.43%
Price to Book	2.08 x	1.43 x	2.07 x	3.01 x	2.77 x	2.78 x	2.55 x	2.31 x
Nbr of stocks (in thousands)	1,097,269	1,067,957	1,318,947	1,246,071	1,187,408	1,171,101	-	-
Reference price ²	65.03	39.99	72.18	118.0	116.1	122.2	122.2	122.2
Announcement Date	2/4/20	2/2/21	2/3/22	2/2/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	36,670	19,256	48,349	82,156	58,574	61,218	63,480	61,887
EBITDA ¹	17,189	4,180	21,698	36,675	25,727	27,396	26,743	26,403
EBIT ¹	11,099	-1,341	14,490	29,171	17,457	16,685	18,357	17,240
Operating Margin	30.27%	-6.96%	29.97%	35.51%	29.8%	27.26%	28.92%	27.86%
Earnings before Tax (EBT) ¹	9,524	-3,140	12,712	28,228	16,288	16,596	17,858	18,189
Net income ¹	7,189	-2,701	8,079	18,680	10,957	10,607	11,278	11,003
Net margin	19.6%	-14.03%	16.71%	22.74%	18.71%	17.33%	17.77%	17.78%
EPS ²	6.400	-2.510	6.070	14.57	9.460	8.661	9.693	9.842
Free Cash Flow ¹	4,468	87	10,401	18,155	8,717	9,599	10,616	11,242
FCF margin	12.18%	0.45%	21.51%	22.1%	14.88%	15.68%	16.72%	18.17%
FCF Conversion (EBITDA)	25.99%	2.08%	47.94%	49.5%	33.88%	35.04%	39.7%	42.58%
FCF Conversion (Net income)	62.15%	-	128.74%	97.19%	79.56%	90.5%	94.13%	102.17%
Dividend per Share ²	1.335	1.690	1.750	1.890	2.110	2.340	2.596	3.359
Announcement Date	2/4/20	2/2/21	2/3/22	2/2/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	11,616	15,963	19,291	21,989	21,614	19,262	15,517	12,884	14,866	15,307	14,476	15,574	15,594	15,997	16,069
EBITDA ¹	5,435	7,117	10,025	9,669	9,480	7,501	6,737	5,605	6,534	6,882	6,278	6,626	6,616	6,694	6,625
EBIT ¹	3,763	5,334	8,202	7,929	7,608	5,502	4,795	3,595	4,439	4,659	4,526	4,186	4,153	4,405	4,645
Operating Margin	32.39%	33.41%	42.52%	36.06%	35.2%	28.56%	30.9%	27.9%	29.86%	30.44%	31.27%	26.88%	26.63%	27.54%	28.91%
Earnings before Tax (EBT) ¹	3,582	4,336	7,898	7,655	7,440	5,235	4,562	3,362	4,100	4,264	3,808	4,080	4,071	4,232	4,566
Net income ¹	2,379	2,627	5,759	5,145	4,527	3,249	2,920	2,232	2,798	3,007	2,551	2,590	2,578	2,634	2,876
Net margin	20.48%	16.46%	29.85%	23.4%	20.94%	16.87%	18.82%	17.32%	18.82%	19.64%	17.62%	16.63%	16.53%	16.46%	17.9%
EPS ²	1.780	1.980	4.390	3.960	3.550	2.610	2.380	1.840	2.320	2.520	2.150	2.147	2.150	2.293	2.411
Dividend per Share ²	0.4300	0.4600	0.4600	0.4600	0.4600	0.5100	0.5100	0.5100	0.5800	0.5800	0.5800	0.5800	0.5800	0.5900	0.5900
Announcement Date	11/2/21	2/3/22	5/5/22	8/4/22	11/3/22	2/2/23	5/4/23	8/3/23	11/2/23	2/8/24	5/2/24	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	6,779	8,769	14,460	7,400	12,331	11,773	10,286	8,305
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.3944 x	2.098 x	0.6664 x	0.2018 x	0.4793 x	0.4379 x	0.3838 x	0.3127 x
Free Cash Flow ¹	4,468	87	10,401	18,155	8,717	9,599	10,616	11,242
ROE (net income / shareholders' equity)	12.1%	-3.43%	21.3%	37.1%	21.8%	19.9%	20.9%	18.1%
ROA (Net income/ Total Assets)	5.75%	-1.56%	10.4%	18.8%	11.5%	10.6%	10.6%	9.5%
Assets ¹	125,126	172,875	77,396	99,373	94,876	99,718	106,994	117,002
Book Value Per Share ²	31.30	27.90	34.90	39.20	41.80	44.00	48.00	52.90
Cash Flow per Share ²	9.880	4.450	12.80	22.20	17.20	18.00	19.50	19.90
Capex ¹	6,636	4,715	5,324	10,159	11,248	11,286	11,307	11,202
Capex / Sales	18.1%	24.49%	11.01%	12.37%	19.2%	18.45%	17.83%	18.12%
Announcement Date	2/4/20	2/2/21	2/3/22	2/2/23	2/8/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ConocoPhillips

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

122.2 USD

Average target price

142.1 USD

Spread / Average Target

+16.28%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Oil & Gas Exploration and Production

	1st Jan change	Capi.
CONOCOPHILLIPS	+4.84%	143B
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CNOOC LIMITED	+56.15%	128B
CANADIAN NATURAL RESOURCES LIMITED	+17.49%	80.11B
EOG RESOURCES, INC.	+7.61%	75.81B
PIONEER NATURAL RESOURCES COMPANY	+19.90%	62.99B
OCCIDENTAL PETROLEUM CORPORATION	+7.72%	57.32B
HESS CORPORATION	+9.36%	48.69B
DIAMONDBACK ENERGY, INC.	+29.30%	35.25B
WOODSIDE ENERGY GROUP LTD	-12.17%	33.75B

Other Oil & Gas Exploration and Production