ConocoPhillips (NYSE:COP) had its target price increased by Wells Fargo & Company from $57.00 to $60.00 in a report published on Friday, October 27th. Wells Fargo & Company currently has an outperform rating on the energy producer’s stock.
Several other equities analysts have also commented on the company. Piper Jaffray Companies restated a buy rating and set a $52.00 price target on shares of ConocoPhillips in a research note on Thursday, October 19th. Morgan Stanley raised their price target on ConocoPhillips from $45.00 to $48.00 and gave the company an equal weight rating in a research note on Wednesday, October 18th. Barclays PLC reaffirmed an overweight rating and set a $55.00 price objective (up previously from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Zacks Investment Research downgraded ConocoPhillips from a hold rating to a sell rating in a research report on Tuesday, October 10th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $54.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $55.37.
Shares of ConocoPhillips (COP) traded down $0.54 during trading on Friday, hitting $52.99. The stock had a trading volume of 5,504,500 shares, compared to its average volume of 7,219,794. The stock has a market capitalization of $63,995.97, a price-to-earnings ratio of 2,676.50, a P/E/G ratio of 13.86 and a beta of 1.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $54.22.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates 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 firm posted ($0.66) earnings per share. research analysts forecast that ConocoPhillips will post 0.52 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
A number of hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. raised its position in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares in the last quarter. Canal Capital Management LLC increased its position in shares of ConocoPhillips by 0.3% in the second 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 in the last quarter. Wendell David Associates Inc. increased its position in shares of ConocoPhillips by 0.3% in the second 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 in the last quarter. Sheets Smith Wealth Management increased its position in shares of ConocoPhillips by 0.3% in the second 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 in the last quarter. Finally, Cornerstone Advisors Inc. increased its position in shares of ConocoPhillips by 1.0% in the second 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 in the last quarter. Institutional investors own 70.17% of the company’s stock.
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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