ConocoPhillips (NYSE:COP) had its price objective hoisted by Wells Fargo & Company from $57.00 to $60.00 in a research report report published on Friday, October 27th. They currently have an outperform rating on the energy producer’s stock.
Several other research firms have also recently commented on COP. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a buy rating in a research report on Saturday, July 1st. BidaskClub raised shares of ConocoPhillips from a sell rating to a hold rating in a research note on Friday, August 11th. Sanford C. Bernstein lowered shares of ConocoPhillips from an outperform rating to a market perform rating and reduced their price target for the stock from $63.00 to $42.00 in a research note on Thursday, July 6th. ValuEngine raised shares of ConocoPhillips from a sell rating to a hold rating in a research note on Monday, July 24th. Finally, Morgan Stanley increased their target price on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an equal weight rating in a research note on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $55.37.
Shares of ConocoPhillips (COP) traded down $0.20 during mid-day trading on Friday, reaching $52.79. 1,153,048 shares of the company’s stock were exchanged, compared to its average volume of 7,219,794. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The firm has a market cap of $63,350.00, a price-to-earnings ratio of 2,649.50, a P/E/G ratio of 13.72 and a beta of 1.28.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the firm earned ($0.66) EPS. research analysts predict that ConocoPhillips will post 0.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be given a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.01%. ConocoPhillips’s payout ratio is presently -53.27%.
Several institutional investors have recently made changes to their positions in COP. Vanguard Group Inc. lifted its position in ConocoPhillips by 1.9% during the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after purchasing an additional 1,694,618 shares during the period. BlackRock Inc. increased its position in ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. State Street Corp increased its position in ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after purchasing an additional 2,452,533 shares during the period. FMR LLC increased its position in ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares during the period. Finally, Macquarie Group Ltd. increased its position in ConocoPhillips by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after purchasing an additional 176,055 shares during the period. 70.08% of the stock is owned by institutional investors.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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