ConocoPhillips (COP) stock slipped today after the global energy company released its Q4 2024 earnings report. The company reported adjusted earnings per share of $1.98, compared to Wall Street’s estimate of $1.84. This is down 17.5% from its adjusted earnings of $2.40 per share reported in Q4 2023. It also posted adjusted EPS of $7.79 for 2024, surpassing analysts’ estimate of $7.74, but falling from 2023’s $8.77. ConocoPhillips said the earnings drop was tied to its acquisition of Marathon Oil.
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Conocophillips’ earnings report also includes Q4 revenue of $14.74 billion, beating analysts’ estimate of $14.45 billion. That also represents a year-over-year revenue increase of less than 1% compared to $14.64 billion.
COP stock investors aren’t overly impressed or disappointed with these earnings results, pushing the company’s shares down 0.41% in pre-market trading. The stock is also up 1.05% year-to-date and down 8.28% over the past 52 weeks.
What’s Next for COP Stock?
ConocoPhillips provided a 2025 guidance update in its latest earnings report. The company expects production to range from 2.34 to 2.38 million barrels of oil equivalent per day in Q1 2025 and the full year.
The ConocoPhillips guidance also includes capital expenditures of about $12.9 billion, adjusted operating costs of $10.9 to $11.1 billion, DD&A between $11.3 and $11.5 billion, and adjusted corporate segment net loss of roughly $1.1 billion, excluding special items.
Is COP Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for ConocoPhillips is Strong Buy based on 17 Buy ratings over the past three months. With that comes an average price target of $135.94, a high of $165, and a low of $114. This represents a potential 35.66% upside for COP stock. These ratings and price targets will likely change as analysts update their coverage of the company after its earnings report.
