BMO Capital Markets set a $78.00 target price on ConocoPhillips (NYSE:COP) in a research report released on Monday morning. The firm currently has a buy rating on the energy producer’s stock.
Several other analysts also recently issued reports on the company. Bank of America downgraded ConocoPhillips from a buy rating to a neutral rating and set a $80.00 price objective on the stock. in a report on Thursday, September 6th. Citigroup boosted their price objective on ConocoPhillips from $80.00 to $90.00 and gave the stock a buy rating in a report on Friday, October 5th. Morgan Stanley set a $88.00 target price on ConocoPhillips and gave the company a buy rating in a report on Friday, October 12th. Zacks Investment Research upgraded ConocoPhillips from a hold rating to a buy rating and set a $81.00 target price on the stock in a report on Thursday, August 23rd. Finally, Jefferies Financial Group reiterated a hold rating and issued a $80.00 target price on shares of ConocoPhillips in a report on Wednesday, August 15th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $75.42.
NYSE COP opened at $64.12 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. The stock has a market cap of $74.99 billion, a price-to-earnings ratio of 106.87, a P/E/G ratio of 1.51 and a beta of 1.22. ConocoPhillips has a 1 year low of $48.97 and a 1 year high of $80.24.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.19. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.48 billion. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. On average, sell-side analysts expect that ConocoPhillips will post 4.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be issued a $0.305 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, October 12th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.90%. ConocoPhillips’s dividend payout ratio is currently 203.33%.
In related news, Chairman Ryan Michael Lance sold 160,064 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total value of $11,535,812.48. Following the completion of the sale, the chairman now owns 106,312 shares of the company’s stock, valued at approximately $7,661,905.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Glenda Mae Schwarz sold 18,882 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $71.15, for a total value of $1,343,454.30. Following the completion of the sale, the vice president now directly owns 29,064 shares of the company’s stock, valued at approximately $2,067,903.60. The disclosure for this sale can be found here. Insiders sold a total of 288,378 shares of company stock worth $20,769,145 in the last quarter. 0.88% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Abbrea Capital LLC boosted its position in ConocoPhillips by 4.6% during the second quarter. Abbrea Capital LLC now owns 16,086 shares of the energy producer’s stock worth $1,120,000 after purchasing an additional 705 shares during the period. BKD Wealth Advisors LLC boosted its position in ConocoPhillips by 1.0% during the third quarter. BKD Wealth Advisors LLC now owns 69,862 shares of the energy producer’s stock worth $5,407,000 after purchasing an additional 725 shares during the period. Mutual of America Capital Management LLC boosted its position in ConocoPhillips by 0.5% during the second quarter. Mutual of America Capital Management LLC now owns 151,049 shares of the energy producer’s stock worth $10,516,000 after purchasing an additional 741 shares during the period. First Personal Financial Services boosted its position in ConocoPhillips by 41.7% during the third quarter. First Personal Financial Services now owns 2,517 shares of the energy producer’s stock worth $195,000 after purchasing an additional 741 shares during the period. Finally, HPM Partners LLC boosted its position in ConocoPhillips by 4.3% during the second quarter. HPM Partners LLC now owns 17,804 shares of the energy producer’s stock worth $1,240,000 after purchasing an additional 742 shares during the period. 72.70% 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. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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