UBS Group upgraded shares of ConocoPhillips (NYSE:COP) from a neutral rating to a buy rating in a report released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $75.00 price objective on the energy producer’s stock, up from their prior price objective of $70.00.
A number of other equities research analysts also recently issued reports on COP. Zacks Investment Research raised shares of ConocoPhillips from a strong sell rating to a hold rating and set a $52.00 price target on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $83.00 to $80.00 and set an overweight rating on the stock in a report on Tuesday, July 9th. Morgan Stanley lowered their price target on shares of ConocoPhillips from $84.00 to $81.00 and set an overweight rating on the stock in a report on Friday, July 12th. Barclays started coverage on shares of ConocoPhillips in a report on Monday, August 19th. They issued an overweight rating and a $79.00 price target on the stock. Finally, Bank of America raised shares of ConocoPhillips from a neutral rating to a buy rating and set a $75.00 price target on the stock in a report on Wednesday, July 17th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. ConocoPhillips currently has an average rating of Buy and an average price target of $76.71.
NYSE COP opened at $60.01 on Monday. The company has a market cap of $63.66 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. ConocoPhillips has a 52 week low of $50.13 and a 52 week high of $80.24. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $54.23 and its two-hundred day simple moving average is $60.71.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.02). ConocoPhillips had a net margin of 18.33% and a return on equity of 15.96%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. During the same period last year, the company earned $1.09 earnings per share. ConocoPhillips’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 3.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd were given a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is 26.93%.
Hedge funds have recently bought and sold shares of the stock. Smart Money Group LLC grew its position in ConocoPhillips by 2.6% during the second quarter. Smart Money Group LLC now owns 6,918 shares of the energy producer’s stock valued at $422,000 after acquiring an additional 177 shares during the last quarter. Full Sail Capital LLC grew its position in ConocoPhillips by 4.6% during the first quarter. Full Sail Capital LLC now owns 4,031 shares of the energy producer’s stock valued at $269,000 after acquiring an additional 179 shares during the last quarter. Sandy Spring Bank grew its position in ConocoPhillips by 0.3% during the first quarter. Sandy Spring Bank now owns 54,051 shares of the energy producer’s stock valued at $3,608,000 after acquiring an additional 181 shares during the last quarter. Linscomb & Williams Inc. grew its position in ConocoPhillips by 1.3% during the first quarter. Linscomb & Williams Inc. now owns 13,680 shares of the energy producer’s stock valued at $913,000 after acquiring an additional 182 shares during the last quarter. Finally, Liberty Capital Management Inc. boosted its stake in shares of ConocoPhillips by 2.0% during the second quarter. Liberty Capital Management Inc. now owns 9,500 shares of the energy producer’s stock valued at $580,000 after purchasing an additional 188 shares during the period. Institutional investors own 71.41% of the company’s stock.
ConocoPhillips Company Profile
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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