Group 1: Acquisition Details - ConocoPhillips (COP) announced an all-stock acquisition of Marathon Oil Corporation (MRO) valued at $22.5 billion, expected to close in Q4 2024 [3] - The acquisition aims to enhance COP's unconventional oil portfolio, adding high-quality inventory at a low cost, and is anticipated to improve earnings, cash flows, and per-share distributions for shareholders [3] Group 2: Employee Impact - Following the acquisition announcement, Marathon Oil plans to lay off approximately 500 employees from its Houston facility, with notifications to be provided within a month of the merger's close [1][2] - While some affected employees may receive retraining for transition roles, most are expected to face permanent job losses, with over half of the transition roles anticipated to last beyond six months [2] Group 3: Strategic Implications - The merger is seen as a strategic move to expand the companies' portfolios and streamline operations, with both companies sharing values focused on safe operations and long-term shareholder value [4] - The merger is expected to improve performance and reduce operating costs, despite the challenges faced by employees due to layoffs [4] Group 4: Company Rankings - Marathon Oil currently holds a Zacks Rank of 4 (Sell), while ConocoPhillips has a Zacks Rank of 3 (Hold) [5] - Investors may consider better-ranked stocks in the energy sector, such as Smart Sand, Inc. (SND) with a Zacks Rank of 1 (Strong Buy) and Nine Energy Service, Inc. (NINE) with a Zacks Rank of 2 (Buy) [6]

ConocoPhillips is very optimistic about what's ahead.ConocoPhillips (COP -1.55%) is firing on all cylinders these days. The oil giant's legacy business is performing extremely well. Meanwhile, the company is about to get a big boost from closing its needle-moving acquisition of Marathon Oil (MRO -1.55%). Those factors are giving the oil stock the confidence to return a lot more cash to its shareholders. It's boosting its dividend and share repurchase program.Drilling down into ConocoPhillips' third-quarter ...

Analysts expressed views on ConocoPhillips' COP mixed third-quarter results. 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 ...

ConocoPhillips (NYSE:COP) Q3 2024 Earnings Conference Call October 31, 2024 12:00 PM ET Company Particiapants Phil Gresh - Vice President, Investor Relations Ryan Lance - Chairman and CEO Bill Bullock - Executive Vice President and Chief Financial Officer Andy O’Brien - SVP of Strategy, Commercial Sustainability and Technology Nick Olds - Executive Vice President of Lower 48 Kirk Johnson - Senior Vice President of Global Operations Conference Call Participants Neil Mehta - Goldman Sachs Doug Leggate - Wolf ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission file number: 001-32395 ConocoPhillips (Exact name of registrant as specified in its charter) Delawar ...

ConocoPhillips (COP) came out with quarterly earnings of $1.78 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $2.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.95%. A quarter ago, it was expected that this energy company would post earnings of $2.06 per share when it actually produced earnings of $1.98, delivering a surprise of -3.88%.Over the last four quarters, the comp ...

Third-Quarter 2024 Detailed Supplemental Information Exhibit 99.2 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------|----------------------|-------------------|--------------------|-----------|-------------|-----------|-----------|------------------------------|-----------| | | 1st Qtr | 2nd Qtr | 2023 \n3rd Qtr | 4th Qtr | Full Year | 1st Qtr | 2nd Qtr | 2024 \n3rd Qtr 4th Qtr | YTD | | $ Million ...

Group 1: Earnings Report Overview - ConocoPhillips (COP) is scheduled to report third-quarter 2024 results on October 31, before the market opens [1] - In the last reported quarter, COP's adjusted earnings were $1.98 per share, missing the Zacks Consensus Estimate of $2.06 due to increased costs and expenses [1] - The Zacks Consensus Estimate for third-quarter earnings per share is $1.78, reflecting an almost 18% decline from the previous year's reported number [1] - The estimated revenues for the upcoming quarter are $14.6 billion, indicating a nearly 2% reduction from the year-ago figure [1] Group 2: Market Conditions and Production Expectations - The average spot prices for West Texas Intermediate crude were $81.80 per barrel in July, $76.68 in August, and $70.24 in September, suggesting a favorable pricing environment for exploration and production [2] - Favorable commodity prices are expected to have supported COP's exploration and production activities, with total daily production predicted at 1,900 thousand barrels of oil equivalent per day (MBOE/D), indicating a 5.2% year-over-year growth [2] Group 3: Earnings Predictions and Rankings - The current model does not predict an earnings beat for ConocoPhillips, as it has an Earnings ESP of -2.97% and a Zacks Rank of 4 (Sell) [3] - A positive Earnings ESP combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) typically increases the chances of an earnings beat, which is not applicable in this case [3] Group 4: Comparisons with Other Stocks - Cheniere Energy, Inc. (LNG) has an Earnings ESP of +12.21% and a Zacks Rank of 3, with earnings expected to be $1.87 per share, suggesting a 21.1% decrease from the prior year [4] - Murphy USA Inc. (MUSA) has an Earnings ESP of +0.94% and a Zacks Rank of 3, with earnings estimated at $6.64 per share, indicating a 13.7% decrease from the previous year [4] - Sunoco LP (SUN) has an Earnings ESP of +13.44% and a Zacks Rank of 2, with earnings expected at $1.53 per share, reflecting a 48% decrease from the prior year [5]

Company Overview - ConocoPhillips (COP) is expected to report a year-over-year decline in earnings, with a projected EPS of $1.82, reflecting a decrease of 15.7% [2] - Revenues are anticipated to be $14.63 billion, down 1.6% from the same quarter last year [2] Earnings Estimates and Revisions - The consensus EPS estimate has been revised down by 7.52% over the last 30 days, indicating a bearish sentiment among analysts [3] - The Most Accurate Estimate for ConocoPhillips is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.30% [6] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a favorable Zacks Rank [5] - ConocoPhillips currently holds a Zacks Rank of 4 (Sell), complicating the prediction of an earnings beat [6] Historical Performance - In the last reported quarter, ConocoPhillips was expected to post earnings of $2.06 per share but delivered only $1.98, resulting in a surprise of -3.88% [7] - Over the past four quarters, the company has beaten consensus EPS estimates three times [7] Market Context - The overall market sentiment indicates that an earnings beat or miss may not solely dictate stock movement, as other factors can influence investor reactions [8] - ConocoPhillips does not appear to be a compelling candidate for an earnings beat, suggesting that investors should consider additional factors before making investment decisions [8]

Core Insights - WTI crude oil prices have remained stable over the past year, currently 18% lower than the same time last year, indicating a consolidation pattern in the price chart [1] Group 1: Price Trends - The price of a barrel of WTI crude oil is 18% cheaper compared to the previous year [1] Group 2: Market Analysis - Analysts have noted a consolidation pattern in the price chart of WTI crude oil, suggesting a period of stability in the market [1]