Shares of ConocoPhillips (NYSE:COP) have earned a consensus rating of “Buy” from the twenty-five brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $58.76.
COP has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Cowen set a $70.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target on the stock. Finally, Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a report on Friday, December 22nd.
Shares of ConocoPhillips (NYSE COP) traded down $1.02 during trading hours on Friday, hitting $54.49. 3,367,760 shares of the company were exchanged, compared to its average volume of 6,152,047. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market cap of $64,880.00, a P/E ratio of -38.90, a P/E/G ratio of 1.70 and a beta of 1.32. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.78%. During the same period in the previous year, the firm earned ($0.26) EPS. analysts predict that ConocoPhillips will post 2.85 EPS for the current year.
ConocoPhillips announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the energy producer to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, February 9th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.09%. ConocoPhillips’s dividend payout ratio is -81.43%.
In other news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction dated Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.82% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after purchasing an additional 6,197,896 shares during the last quarter. AJO LP increased its position in shares of ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock worth $131,353,000 after purchasing an additional 2,891,652 shares during the last quarter. Boston Partners increased its position in shares of ConocoPhillips by 41.6% in the fourth quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock worth $449,252,000 after purchasing an additional 2,403,806 shares during the last quarter. Franklin Resources Inc. increased its position in shares of ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after purchasing an additional 2,134,292 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its position in shares of ConocoPhillips by 183.5% in the second quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock worth $137,982,000 after purchasing an additional 2,031,830 shares during the last quarter. 70.93% of the stock is currently owned by hedge funds and other institutional investors.
ConocoPhillips Company Profile
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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