Barclays began coverage on shares of ConocoPhillips (NYSE:COP) in a research note released on Monday morning, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $79.00 price target on the energy producer’s stock.
Other analysts have also recently issued research reports about the company. Zacks Investment Research raised ConocoPhillips from a strong sell rating to a hold rating and set a $52.00 price target for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $83.00 to $80.00 and set an overweight rating for the company in a research report on Tuesday, July 9th. Mizuho raised ConocoPhillips from a neutral rating to a buy rating and boosted their price target for the stock from $74.00 to $80.00 in a research report on Wednesday, June 26th. ValuEngine raised ConocoPhillips from a sell rating to a hold rating in a research report on Thursday, June 27th. Finally, Morgan Stanley cut their price objective on ConocoPhillips from $84.00 to $81.00 and set an overweight rating for the company in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $76.85.
Shares of NYSE:COP opened at $52.26 on Monday. ConocoPhillips has a fifty-two week low of $50.59 and a fifty-two week high of $80.24. The business has a 50-day moving average of $57.33 and a two-hundred day moving average of $62.63. The stock has a market capitalization of $58.52 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.64.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $9.42 billion. During the same period in the prior year, the firm earned $1.09 EPS. ConocoPhillips’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 4.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.22 annualized dividend and a dividend yield of 2.33%. ConocoPhillips’s dividend payout ratio is presently 26.93%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in ConocoPhillips by 0.3% during the second quarter. Vanguard Group Inc. now owns 90,335,159 shares of the energy producer’s stock valued at $5,510,444,000 after acquiring an additional 269,794 shares during the period. BlackRock Inc. increased its stake in ConocoPhillips by 4.0% during the second quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock valued at $4,879,663,000 after acquiring an additional 3,103,095 shares during the period. Geode Capital Management LLC increased its stake in ConocoPhillips by 4.6% during 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 period. Invesco Ltd. increased its stake in ConocoPhillips by 8.6% during the second quarter. Invesco Ltd. now owns 9,448,755 shares of the energy producer’s stock valued at $576,376,000 after acquiring an additional 749,531 shares during the period. Finally, Boston Partners increased its stake in ConocoPhillips by 3.5% during the first quarter. Boston Partners now owns 6,963,606 shares of the energy producer’s stock valued at $464,751,000 after acquiring an additional 236,305 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.
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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