ConocoPhillips (NYSE:COP) had its target price decreased by JPMorgan Chase & Co. from $83.00 to $80.00 in a research report released on Tuesday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the energy producer’s stock.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Key Energy Services from a hold rating to a buy rating and set a $4.50 target price on the stock in a report on Wednesday, March 13th. Piper Jaffray Companies set a $30.00 target price on KLX Energy Services and gave the company a buy rating in a report on Thursday, March 21st. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Credit Suisse Group reiterated an outperform rating and set a GBX 2,012 ($26.29) target price on shares of Aston Martin Lagonda Global in a report on Wednesday, May 1st. Finally, Morgan Stanley set a $100.00 target price on Cimarex Energy and gave the company a buy rating in a report on Thursday, May 16th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $77.29.
NYSE COP opened at $61.46 on Tuesday. ConocoPhillips has a 1-year low of $56.75 and a 1-year high of $80.24. The stock has a market cap of $69.18 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.61 and a beta of 1.00. The company has a 50 day moving average price of $59.87. The company has a quick ratio of 1.72, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The firm had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $9.16 billion. During the same period last year, the business posted $0.96 EPS. Equities research analysts anticipate that ConocoPhillips will post 3.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is 26.93%.
A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its holdings in ConocoPhillips by 5.8% in the fourth quarter. Northern Trust Corp now owns 15,650,146 shares of the energy producer’s stock valued at $975,786,000 after acquiring an additional 861,057 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock valued at $940,354,000 after acquiring an additional 659,942 shares during the last quarter. Norges Bank acquired a new position in ConocoPhillips in the fourth quarter valued at $738,471,000. Dimensional Fund Advisors LP boosted its holdings in ConocoPhillips by 28.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock valued at $710,012,000 after acquiring an additional 2,532,290 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in ConocoPhillips by 3.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,818,564 shares of the energy producer’s stock valued at $674,537,000 after purchasing an additional 332,210 shares during the period. Hedge funds and other institutional investors own 72.09% of the company’s stock.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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