ConocoPhillips (NYSE:COP) had its price objective boosted by Morgan Stanley from $45.00 to $48.00 in a research note issued to investors on Wednesday, October 18th. Morgan Stanley currently has an equal weight rating on the energy producer’s stock.
Other equities research analysts have also issued research reports about the company. Citigroup Inc. dropped their price target on ConocoPhillips from $65.00 to $57.00 and set a buy rating on the stock in a research report on Friday, July 21st. Cowen and Company set a $55.00 price target on ConocoPhillips and gave the stock a buy rating in a research report on Tuesday, July 18th. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the company a buy rating in a research report on Sunday, July 16th. Scotiabank set a $54.00 target price on ConocoPhillips and gave the company a buy rating in a research report on Saturday, July 1st. Finally, Jefferies Group LLC set a $59.00 target price on ConocoPhillips and gave the company a buy rating in a research report on Sunday, July 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $54.98.
ConocoPhillips (NYSE COP) traded down 0.49% during midday trading on Wednesday, hitting $51.21. 7,835,701 shares of the company traded hands. The stock has a 50 day moving average price of $48.89 and a 200-day moving average price of $46.20. ConocoPhillips has a 12-month low of $42.27 and a 12-month high of $53.17. The company’s market cap is $62.32 billion.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter last year, the business earned ($0.66) earnings per share. Analysts expect that ConocoPhillips will post $0.35 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.07%. ConocoPhillips’s payout ratio is presently -57.30%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. increased its holdings in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares in the last quarter. Canal Capital Management LLC grew its position in shares of ConocoPhillips by 0.3% in the 2nd quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock valued at $279,000 after buying an additional 22 shares during the last quarter. Wendell David Associates Inc. grew its position in shares of ConocoPhillips by 0.3% in the 2nd quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock valued at $332,000 after buying an additional 26 shares during the last quarter. Sheets Smith Wealth Management grew its position in shares of ConocoPhillips by 0.3% in the 2nd quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock valued at $602,000 after buying an additional 37 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its position in shares of ConocoPhillips by 1.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock valued at $165,000 after buying an additional 37 shares during the last quarter. 68.83% of the stock is owned by institutional investors and hedge funds.
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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